Rounding Top pattern confirmed in KotakBank. Neck level 1467.5 is broken decisively and the stock can be considered as Short candidate. Do note that volume has been diminishing as the pattern was formed adding further confirmation of a temporary weakness. Target for short selling comes at 1394 according to the pattern, whereas 1400 as target could be safer.
Minimum Potential shown by the Price Action. Implied Volatility has declined which makes a good return in Options trade. A good 3-4 days positional trade with an entry point of 1480 and stop loss of 1500. NSE:KOTAKBANK Ko
All levels Mentioned in the chart. P.S. These are my views, doesn't mean anyone should take random trades basis this. Please do your own analysis or consult a reliable adviser.
if your views are different then me , there is nothing wrong in it ! RESPECT
KOTAKBANK (Kotak Mahindra Bank Ltd) #SELL BELOW 1187 AND #BUY ABOVE 1210
all levels are important and taken from different frames , one can draw an own conclusion from the above
KOTAK BANK is in the NICE Bearish LEG. .
my stance is bullish but at levels so will like to buy at lower levels , already nifty and banknifty are oversold . a bounce and consolidation very llikely.
i am bullish on the basis of structure and looks that it will continue its upswing in the coming days .
structure looks well , important base at 158-165 zone upside can even be above 210 as it tested the levels multiple time . risk reward in favour on long side .
the above mentioned levels will act as a TWIST in tale .. the above level are not spontaneous but have a well informed analysis ,. ..
will go long in kotak for intradY 2 % target of 1059 , 1071 ! sl 1038
i see a good probability of theis stock going to get strength on monday see a two day trade setup to go long for 1909 and 1935 target !
KOTAKBANK broadening wedge. Please use this as a reference in addition to your analysis.