Buy KTKBANK at CMP (114+) and on dips upto 106 Targets: Open SL: 92
Karnataka Bank historical weekly chart shows that the major trend is still up. It could either go sideways from here or fall further towards the pitchfork bottom before bouncing. So every dip up to 80-90 zone for next couple of years is a buying opportunity. Maintain strict SL 74
1) Resistance at triple top 2) Bank is unabale to show credit growth in last 5-6 quaters 3) Though it trades at less than book value , trend has been negative 4) BN bearish likely to pull it back to 107 levels 5) Moving in a channel
It has been observed that the price action is strongly trending up for past two years. Now, after a big rally up, it is consolidating in a triangle pattern and a breakout above it shall further bring upside rally. Fundamentals Facts: Market Cap: 4328 Cr Face Value: 10 Book Value: 175 P/E: 10 P/BV: 0.88 ROCE (5Yrs): 107% Short Term T1- 158 T2- 160 SL- 153 Long...
Weekly and daily MACD crossover, Low stoch in weekly chart are helps to move up further levels.(Trend lines are drawn from weekly chart) CMP:158.9 Targets: 161 167 176 182 Stoploss: 147(Long) on closing basis 153(short term) on closing basis Vijayaraghavan, Inditrade, Kovilpatti.
Buy KTKBANK above 143 T1: 148 T2: 151 T3: 159 T4: 164 SL: 139
Ktk bank retraced to 133 from 160. Now in resuming uptrend it has reached to 50% Fib Level. If the stock continues recent trend and sustains above 157, one can go long with SL below latest swing low 148 keeping 180 as target.
Short KTKBANK at CMP (141) SL: 152 Target1: 130 Target2: 114
it convincingly broke the triangle by close of business
KTK BANK has formed bullish setup and may test 158-166 . SL should be 150 on Closing Basis.
Karnataka Bank resumed uptrend in the last few days. Expecting price to break the recent highs of 130. Yesterday price moved above the faster moving average. Entry was made near the support from 5 min chart.
Price is congesting in a tight range. Keltner Channel is within the Bollinger Band. Once Keltner moves out of Bollinger, there is typically a nice move. Wait for direction and plan your risk.