Do you want to take benefit of increased volatility,then read itDear Friends,
This is Chandrakant Deo from High Conviction Traders, I hope you must be enjoying the Technical research we are doing and our Stock identification.
We put our rigorous hours to our research and chose high conviction Trading ideas for our traders and below is a small review of what all we could spot in October and how these ideas have enabled our traders mint money in this month.
5% gain in just a week
Our Last weeks (21st October 2018) Sell on Bajaj-Auto was down 5% was quoting below 2425 from our highest selling price of 2550
There was another Stock zoomed after we spotted it 15 days ago
17% Gain in just two weeks
Our Reco. Bharti airtel on 13th October 2018, Recommended @ 280 for a Target of Rs. 331 & 354 made a high of 328 on Thursday, returning handsome 17% gains to our Traders
There Was yet another Sell Recommendation on a stock
10% gain in 3 weeks
Jsw Steel@ 366-376 with just a risk of Rs. 12. We expected this stock to fall to 345 level after seeing the pullback the stock slumped to as low as 333.05 on friday down almost 10% from our Sell recommendation
Today We are presenting you with yet another stock idea a well known private bank looking like falling from the cliff, trading at 1158. You guessed it right.
Kotak Mahindra Bank | Sell @ 1158-1178 | Stop Loss 1199 | Target 1108 to 1082
Today we analysed this stock with yet another Technical analysis Indicator i.e Bollinger Band.
Let me tell you more about Bollinger Bands, it is a technical indicator used to identify swings in stock price with the help of reading the volatility and a mathematical function of Standard deviation. This gives traders edge to really make gains out of arising volatility in the stock.
Sell signal is generated on a stock which closes below 2 standard deviation of 20 day moving average of a stock.
Observation on the Hourly Chart:
Kotak Mahindra bank made a low 1040 on 5th October & a high of 1219 on 22nd October 2018
The stock price closed below 2% of the standard deviation of the 20day SMA which is placed at 1175
The stock is also trading below the Lower Bollinger Band placed at 1160
The stock is coming out of the consolidation zone see green zone UBB & LBB are showing the expansion of the range ( see arrows)
Kotak Bank also closed below the yellow trendline
Hence, the stock may continue its down trend and touch 1108 and 1082 in coming 8-10 Sessions, being the 61.8% & 76.4% retracement levels of the high 1219 & low 1040 respectively
I hope you are connecting yourself to the technicals we are speaking about.
You can also get back to us for any queries or comments.
Billion Dollar question to ask yourself
Have you ever thought you can’t make money in stocks by whatever you do? be it technicals or fundamentals ?
if yes then today’s quote is for you
Trading Mantra :
“Anything is possible with persistence and hard-word. It can be done, and your own determination to succeed is the most important element.” _ Bill O'Neil
Thank you for sharing.
Happy Reading …..
Happy Trading …..
Be a wealthy Trader …..
