KOTAKBANK bullish flag 9th may 2023KOTAKBANK forming a bullish flag pattern. If it breaks 1972 and target 2022 with SL of 1954. Risk to reward is 1: 2
Kotakbankelliottwaveanalysis
Kotak Bank Has An Explosive Rally AheadNSE Kotak Mahindra Bank has started marching upside because it has completed wave ((4)). Its fifth wave will end nearby the retracement of wave ((4)) of 161.8% and sub-wave of (4) of 161.8%. So, long-term investors may hold for the targets of 2345 - 2446 - 2536 .
At present, intraday & short-term investors can also jump on this stock. Kotak bank prices may move forward up to 1900 - 1960 - 2056 levels to hit the halfway of wave 5th. Consecutive closing above the level of 1832 is a direct buy signal.
A short reversal is expected at the last target of 2056 .
Further information I will update you soon. Stay connected!
