Kotak Bank on the Daily chart is on the verge of breakout, I am Entering into Long Position in KOTAKBANK future Around 1870 For the Targets of 1990 and Stoploss below 1815 (Time Horizon 15 Days)
Reason To Buy Kotak Bank:
# Stock Today Crosses 200 Days EMA.
# Falling Wedge Pattern Breakout Seen.
# Banking Sector Trading in Strong Momentum.
# Frontline Blue Chip...
Description : Kotak Bank at lower levels following trendline area support and at resistance zone now. if it breaks on upside more bullish it will become.
Support Area : Support at 1800-1830 and 1640-1690
Resistance Area : Resistance at 1950-1980 if broke above it then 2100 and 2300 Zone to watch for.
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
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.
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...