the stock has taken a couple of time @ 1700 level. everytime its pushed down to 1700, it bounce back nicely. all my friend at trading view are expert themselves so i dont feel the need to explain the chart. Enjoy the rally and its time to book profits NOW. Daring trader can Short.
Nifty View: With today's flattish move the benchmark Nifty has created somewhat like a “Spinning Top” on the daily time frame. This suggests uncertainty and incapability to hold onto the new life high. This failure was mainly due the underperformance that we noticed within the banking and auto stocks. We can also observe a price-momentum divergence on the daily...
Kotak Mahindra Bank Futures
Hourly charts
The candles have been taking but now they are too close to the support level which is at 1620.
RSI is in the over sold range.
I find this an interesting but to trade with stop loss below 1620
KotakBank is looking weak on charts. Exit if you are long or Short Sell KotakBank between 1773-77 SL 1790 Target open. Hold this position for 5-10 Days.
Disclaimer :
Trading is never ever recommended as it is injurious to mankind. This is purely my study based on technical charts and for educational purpose only. Please do your analysis before taking any trades...
Explanation on the chart.
The price seems to be rejecting lower levels very sharply and seems to be consolidating above the 200MA on the 1 hour chart. 1900 is also a psychological level that is acting as a good support over the last couple of sessions.
I would consider the current price to be a good entry point on the stock with a medium term perspective and...
Retested a small support of 1854
Recent Breakout Level at 1806
Staying below 1806 it may test critical support of 1713
Remain bullish till stays above 1854
Cautious below 1806
