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...
1) On 1 day time frame, we can see that it sustain and tested 21 DMA and took support from it.
21DMA is placed at 1995.78 level. Also another critical level is 2000 level.
So range of 1995 to 2000 will work as critical support zone.
Please refer below chart : 1day Time Frame. ...
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.
***** 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...
KOTAK BANK BUY ABOVE 1820 on closing basis
POSITIONAL TARGETS: 1840, 1860, 1890, 1920, 1960, 1995, 2025
Posting for Educational purpose only
Closing Basis means stock need to trade above 1820 between 3:25 ~ 3.30 PM
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Buy- Above 1850
Target - 1900 1960 2000 2040
Stock has potential to go till 2200 in short to mid term.
Below 1670 is a good short candidate.
Note:- I am not SEBI registered . All Views and trade setups are my personal view and my personal trade setup.
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HERE IS THE CHART OF KOTAK MAHINDRA BANK 1 DAY CHART I FOUND OF TRIANGLE PATTERN BREAKOUT.
AND WHEN 20 AND 200 EXPONENTIAL MOVING AVERAGE IS PARALLEL TO EACH OTHER AND WHEN THEY GOING ANOTHER DIRECTION SO THE TRADE GIVES RIDING.
IN THIS I ALSO THINK THAT IT WILL BREAK UP SIDE.
MY TARGET FOR THIS IS = 1831, 1935.
Note: This is for educational purpose only.
There seems to be a hammer at 21 dynamic support as well as the last resistance turned support. The pullback has happened on back of low volumes which indicate weaker sellers.