Kotak bank stock retraced 50% of wave 3 and formed an ending diagonal pattern in wave 4, finally has done breakout from ending diagonal pattern, it looks like the correction is completed and the stock is likely to started its next step of upmove, also the macd in daily time frame has turned bullish and done positive crossover, as the wave 5 unfolds the stock may...
1) On 15 min time frame it has been making lower lows in price chart but on RSI it is making higher lows. Which can work as regular bullish divergence.
Please refer below chart.
2) On 1 hour time frame it has been making higher lows in price chart buy on RSI it is making lower lows. Which...
1) On 1 hour time frame we can see it made higher low, while RSI made lower low. This can be act as hidden bullish divergence.
Please refer Chart below: 1 hour time frame.
2) On 15min Time frame, we can see it made almost flat lows in price action, while RSI is making higher lows. This...
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.
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...
***** 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.