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It fell after posting good results due to equity dilution issue which was as per SEBI norms. That only boosts the company! Anyways, We have Stop Loss.
Will it come down after months of going up. Do comment
cmp 967; i think kotak bank can easily see a move towards 980/985. Just a view stop for this view is 960
The information is educational purposes only and does not constitute an offer to sell nor a solicitation of an offer to buy any security which may be referenced by me. The information provided through my charts are for personal, non-commercial, educational use and display.
Buying kotak bank because of price is at rsi oversold area on daily chart and strong bullish candlestick marubozu type formation with good volume,weekly chart is also at rsi support zone and target is based on Fibonacci
Stoploss - 690
Target 1 - 747.45
Target 2 - 781.31
:- Neutral stance as of now, as the move currently not confirm as the c wave is not confirm as it can go more south until 161% retracement.
:- but if it breaks to the upside it may form a new leg of the move.
:- risky trade( short when close below 100MA book profit at 161.80%) (long when break the trend line to the upside)
:- and yes it is also holding middle ...