Today it open gap down, so it is to follow the trade plan as per no.3 from my previous post on KOTAKBANK.
Review and what we learned from Today.
#1 As per trade plan, we have to avoid first 15-20 min to get it cool down. Today we saw a huge volatility in this initial period.
What we leared : Always to avoid trade in initial 15-20 min.
Kotak bank is about to start final leg rally. It is an impulse from Mar'20 and now it is in inner wave 5. Both BankNifty and Kotak bank are in sync on inner waves.
First target : 2050
Second target : 2140
Third target : 2196
Final target if luck : 2400
Invalidate level : 1670
Major degree wave 3, started from 2009 is about to complete.
On, 19-07-2021 and 20-07-2021, it was making lower lows, while RSI on that was making higher lows. This will be the bullish divergence.
I have marked this bullish divergence with orange line.
Now If you see the price action it has formed double bottom and it closed above critical range of 1718-1720.
Trade plan for 26-07-2021
1) If it able to...
TRADING WATCHLIST FOR W/B 26-07-21
This is a new series of periodical posts where I would share the scrips that I come across and find good to keep on my radar for the next trading session/s. The post may not be a daily feature as it depends on whether I am able to find some opportunities.
I will only be sharing the time frame and the script name. I will...
kotakbank has given breakout from resistance trendline in hourly time frame along with rsi bullish divergence, and now it is retesting broken resistant trendline
this can be opportunity to go long on dips
with stoploss of 1748 for targets of 1774, 1781, 1787, 1796, 1805, 1816, 1831, and 1850 in coming days
Kotak bank - Breakout or breakdown.? Descending Triangle.. Strong supply zone and consolidation..
Will wait for either side to retest. 300 Points - potential
This is not a recommendation.. Just for learning purpose..
***** It's just for an educational purpose and so you must also follow your own technical analysis before taking up the trade ******
Aggressive traders enter at the breakout and conservative traders may give entry after retracement (Retracement is optional, we cannot expect every stock to take a retest after the breakout, it may also continue to have...
Triangle formation is almost going to complete on the daily chart of NSE:KOTAKBANK chart. This is pure chart analysis without any other indicators. Watch it carefully, in the next 4-5 trading days it may show its moves.
Follow me if you are interested in pure charting analysis like that.
Feel free to ask any queries in the comment section about this chart pattern.
NSE:KOTAKBANK had been showing sluggishness and stuck in a small range for the last 3-4 months. Last quarter results had been also not that great. And looking at the current movement of it, looks like results are going to be either okay or below expectations. If results are below expectations then it might show 1680 levels.