LONGKotak bank reversed from its previous level a level where buyers where active in a huge quantity, and on weekly chart it is showing buying signal according to price action and if you are going to enter the price come down by a little bit, so trade with proper risk management.
Trade at your own risk.
KOTAKBANK trade ideas
Kotak Mahindra Bank forming Cup and Handle formation.Please do your due research.
this is just an trade idea and not an recommendation.
don't hesitate on hitting stop loss and exiting position on hitting the desired target / profit.
if you miss the trade, chill on, there are thousands of other trades to catch on.
Kotak - still 1830 area holds as resistancekotak - still holds upper line as resistance , weekly close above 1830 can open doors for upside however as of now it seems like lower bands are slowly shifting up.. possible after rate hike in India banks will give a breakout on upside. near term support 1700-1680
strong support 1500-1520 and 1400-1420
expect to trade side ways in range of 1680-1840 till a break out on either side.