Kotak Bank - Symmetrical triangle + Bullish market structure
The price was forming a symmetrical triangle that broke upwards. But the price is getting rejected from the 1820-1830 zone. The 200 MA is also acting as strong resistance in the 1830 zone. Hence 1830 is a crucial level. If the price manages to sustain above 1830, then we can head towards 1900 and upwards. I have made an illustration on the left-hand side, to explain the symmetrical triangle pattern.
Targets: 1900, 1993, 2045
Highlights:
1. Symmetrical triangle
2. Resistance from 1820-1830 zone
3. 200 MA also acting as resistance at 1830 zone
4. Sustenance above 1830, will push the price towards 1900
4. Targets: 1900, 1993, 2045
You are always advised to use an appropriate Risk-Reward ratio as per your strategy.
P.S: This is NOT investment advice. This chart is meant for learning purposes only. Invest your capital at your own risk.
Targets: 1900, 1993, 2045
Highlights:
1. Symmetrical triangle
2. Resistance from 1820-1830 zone
3. 200 MA also acting as resistance at 1830 zone
4. Sustenance above 1830, will push the price towards 1900
4. Targets: 1900, 1993, 2045
You are always advised to use an appropriate Risk-Reward ratio as per your strategy.
P.S: This is NOT investment advice. This chart is meant for learning purposes only. Invest your capital at your own risk.
Rajat Kumar Singh,
B.Tech (Delhi Technological University)
Global Community Manager, TradingView
✅ Telegram: t.me/johntradingwick
✅ Blog: tradingwick.in/
✅ Amorella: amorella.in/
B.Tech (Delhi Technological University)
Global Community Manager, TradingView
✅ Telegram: t.me/johntradingwick
✅ Blog: tradingwick.in/
✅ Amorella: amorella.in/
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.