Very Good Risk Reward Trade. Kotak Bank has been Underperforming Bank Nifty from a long time, so according to me this is the time for Kotak Bank to step in and help Bank Nifty to move higher
Primary Trend : Bearish (Monthly) Secondary Trend: Bearish (Weekly) Minor Trend : Bearish (Daily) Bearish momentum will continue until it breaks its major RESISTANCE "1778" Supports are: 1737 & 1695 Resistance : 1778 & 1817
Kotak Mahindra Bank Ltd. Engages in the provision of commercial banking services. It operates through the following segments: Treasury, Balance_Sheet_Management Unit (BMU) and Corporate Centre; Retail Banking; Corporate or Wholesale Banking; Vehicle Financing, Other Lending Activities; Broking; Advisory and Transactional Services; Asset Management; Insurance_ and...
NSE:KOTAKBANK 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...
KOTAK BANK BUY ABOVE 1820 on closing basis SL 1696 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 If my analysis appears OK then please LIKE, FOLLOW and SHARE to get more future ideas
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.