Kotak Bank appears to be in the final stages of a WXYXZ complex correction on the weekly timeframe, with a zigzag pattern unfolding in Wave Z. A rejection from the 2301.90 zone has initiated a clean 5-wave decline, setting the tone for the final leg of the corrective structure.
This analysis combines high-level structure from the weekly chart with internal confirmations from the daily timeframe.
Weekly Chart Highlights
Invalidation level: A price move above 2301.90 invalidates the Z wave scenario.
Daily Chart Observations:
The internal structure from the 2301.90 top shows:
Wave B is anticipated as a 3-wave corrective rally, targeting:
A final 5-wave decline from there would complete Wave C and conclude the larger Wave Z.
Conclusion
Kotak Bank is potentially in the final zigzag leg (Wave Z) of a larger WXYXZ correction that has been unfolding for over two years. With multi-timeframe confluence and a clean internal structure, the path forward suggests a short-term bounce followed by one last leg down.
This setup offers high clarity for both short-term traders and long-term positional analysts awaiting the completion of a Wave 4 before a possible Wave 5 rally.
Price action will be updated as chart evolves.
Disclaimer: This analysis is for educational purposes only and does not constitute investment advice. Please do your own research (DYOR) before making any trading decisions.
This analysis combines high-level structure from the weekly chart with internal confirmations from the daily timeframe.
Weekly Chart Highlights
- Wave W completed at 1631.00.
- A rally into Wave X followed, peaking around 2064.40.
- Wave Y took the form of a contracting triangle, breaking down to 1543.85.
- From there, a sharp rally into 2301.90 formed Wave X2, failing to extend impulsively — suggesting corrective nature.
- The decline from X2 is forming a potential 5-3-5 zigzag, labeled as Wave Z.
- Fibonacci projection for Wave C of Z lies between 0.618 (1863.65) and 1.0 (1592.75) of Wave A.
Invalidation level: A price move above 2301.90 invalidates the Z wave scenario.
Daily Chart Observations:
The internal structure from the 2301.90 top shows:
- A 5-wave decline in Wave A, ending with a clear ending diagonal in the 5th wave.
- This suggests exhaustion and a likely short-term bounce.
Wave B is anticipated as a 3-wave corrective rally, targeting:
- 0.5 retracement at 2168.05
- 0.618 retracement at 2199.65
A final 5-wave decline from there would complete Wave C and conclude the larger Wave Z.
Conclusion
Kotak Bank is potentially in the final zigzag leg (Wave Z) of a larger WXYXZ correction that has been unfolding for over two years. With multi-timeframe confluence and a clean internal structure, the path forward suggests a short-term bounce followed by one last leg down.
This setup offers high clarity for both short-term traders and long-term positional analysts awaiting the completion of a Wave 4 before a possible Wave 5 rally.
Price action will be updated as chart evolves.
Disclaimer: This analysis is for educational purposes only and does not constitute investment advice. Please do your own research (DYOR) before making any trading decisions.
Note
Updates on the weekly and daily timeframes. Wave B unfolding as projected. Remember that wave B should unfold as 3 waves. Note
Price has reached the marked wave B zone(retracement of 50% previous swing high/low) and also filling the small gap that was created on May2. This is the resistance zone. Expected wave B to unfold in 3 waves, but as of now this move up looks too impulsive. Keeping a tab on RSI to check any momentum exhaustion. 
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.
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.