KOTAKBANK again moving towards four digit...One of the best stock in banking sector for trading and also for portfolio permanent membership as per my reading about stock movement and managements future projection. Stock is in nice up trend which has started from 600 level. Stock is trading in a narrow range after breaking out of its three digit mark. After making its life time high stock price has retrace towards its support area and started moving in the direction of its major trend and recently breaking out of falling trend line.
This is for educational purpose only we are long in the stock from lower level.
Retesting
andhrabank looks bearish in short termthe level of 58 played a crucial role in Andhra bank. Initially it acted as a resistance then broken, and gave support in couple of instances, Now as it is broken and price retraced to this level, now it should act as a resistance.
If this crucial level is saved then price may slide down to 54 - 53 levels.
Note: this is not a short selling advice, as fno trading is quite risky.
ujjivan finance looks bullish in short to medium term.double bottom formed after a prior downtrend, broke out with high volume, now retesting.
sl - 316, 1st tgt - 370
tube invest looks bullish in short to medium term. it is in a strong up trend in monthly and weekly time frame,
in daily, there was a breakout with good volume, now retesting, should reverse soon.
sl - 683, 1st tgt - 780, since its in strong up trend one should hold it with a trailing sl.
state bank of india looks bearish in short term to medium termhead and shoulder pattern formed with a neck line around (281.5 - 280.5) level, which was a strong support also, which got broken later. Now price is retesting the broken level.
Here the pattern tgt - 256, and sl should be just above the right shoulder - 296.5 .