Kotak Bank on the Daily chart is on the verge of breakout, I am Entering into Long Position in KOTAKBANK future Around 1870 For the Targets of 1990 and Stoploss below 1815 (Time Horizon 15 Days)
Reason To Buy Kotak Bank:
# Stock Today Crosses 200 Days EMA.
# Falling Wedge Pattern Breakout Seen.
# Banking Sector Trading in Strong Momentum.
# Frontline Blue Chip...
Kotak mahindra bank has been consolidating for 3 months.
The bank is due for its quaterly results and a break out.
The stock has respected its 20 ema on daily time frame.
If the stock breaks out of the consolidation zone it can give nice long targets.
Support :- 1700, 1577
Resistance :- 1820-25, 1964
Wait for the entry above the level of 1820-25 as it will be...
KotakBank looking good buy if sustains above 1732 for the upper marked targets. You can cook maximum qty around 1st Target or 1830 as trendline will act as a resistance.
To motivate us, Please like the idea If you agree with the analysis.
InvestPro India Team
Kotak bank has closed just above the support level of 1700-15
On a daily time frame, a doji candle is formed.
Wait for the price action to form a pattern near the levels
Support:- 1700, 1550
Resistance:- 1825, 1960
Kotak bank can become a swing trade if the trend is final.
Description : Kotak Bank at lower levels following trendline area support and at resistance zone now. if it breaks on upside more bullish it will become.
Support Area : Support at 1800-1830 and 1640-1690
Resistance Area : Resistance at 1950-1980 if broke above it then 2100 and 2300 Zone to watch for.
I hope you can now see how KotakBank represents an excellent low risk profit entry setup allowing you to trade in the market.Take positions so that the risk/reward is in your favor.
Knowing why, where & when a strong reversal signal is being generated will be the only way to capitalize on your technical analysis .
Disclaimer: It should not be assumed that...
1) On 1day time frame, since last 3 days it has been trading around 200DMA.
Yesterday, it gave breakout of 200DMA and today it managed to take support from 200DMA and close just above 200DMA.
200DMA is major support at this moment.
If it gives breakdown of 200DMA then it will be bearish again.
100DMA will be immediate...
*Always Enter With good confirmation & Maintain proper Risk Reward.
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Kotak bank has took out the strongest supply zone and also broke the previous swing high with good volumes.
The harmonic ABCD pattern gives us the targets of the next swing high. If these targets are taken out, the AB=CD pattern gives us the fib ratios until 3.618 when the AC is around 0.384 AB.
So there is a lot fuel left for the rally which could lift the Bank...