Buy Entry 200 - 205
Stop loss 168
Minimum Price Target 248
Risk to Reward 1 : 1.50
24% Up Side potential.
The Recent move is supported by Higher Volumes. (Trading volume can help an investor identify momentum in a stock and confirm a trend. If trading volume increases, prices generally move in the same direction.)
The stock has formed a classical Head & Shoulder Pattern and trading below the neckline. One can expect the price in price range 3200 - 3175 in coming days. It does not need much explanation.
There is a possibility of KotakBank forming a Head & shoulders pattern with "equal low" in formation and then "lower high" and "lower low" are expected which should complete H & S pattern.
It is possible because the weakness is evident in KotakBank as it looks like "big players / smart money" selling off - distribution, and retailers "Weak hands" buying. Rsi ...
