#KTKBANK is getting ready for breakout.
Looks like IHS pattern to me. So Kept in radar.
Accumulated a little --> will add main chunk after breakout confirmation only
Still need to check relative strength & momentum as it is PSU bank. Bcuz they don't usually move.
Stock Name - The Karnataka Bank Limited
Ichimoku Cloud Setup :
1). Today's close is above the Conversion Line
2). Future Kumo is Turning Bullish
3). Chikou span is slanting upwards
All these parameters are showing bullishness at Current Market Price
and more bullishness AFTER crossing 113
#This is not Buy and Sell recommendation to any one. This is for...
KTK BANK is in Wolfe Wave, the good thing is it is about to get triggered. This is a weekly TF chart. Once it gives a weekly closing above 74. Then it will give a stellar move towards 128 ( P4 of Wolfe Wave). Few intermediate targets would be 99-115. This is a stock which you should have for Diwali.
Chart & Analysis - Adarsh Dey
Accumulate KTK BANK in between 59-61
with SL 57
Target 1= 73-75
target 2= 83-85
Short term view hold it for next quarter result
Note : Trading in any financial market is very risky. I post ideas for educational purpose only. It is not financial advice. Do not hold us responsible for any potential loss you may incur. Please consult your financial adviser before trading.