KOTAK BANK : Near to strong support 1300 after fall down#KOTAKBANK is falling since Q1FY21 result announced. Today stock hit the level 1300 which is strong support and bounce back, closed above. We can see high OI built-up on call side.
Showing Bearish result in Technical Parameter:
CCI is treading Down
RSI is treading Down
William %R is treading down
ROC is treading down
DI+ crossed below DI- on both daily and weekly chart
MACD crossed signal line below
New shot position
High increase in Call OI compare to Put
Decreasing RS -Benchmark and Sectrol index
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Resistance : 1340 and 1351
Breakout : 1328
LTP : 1317
Breakdown : 1309
Support : 1300 & 1280
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Positive & Negative Point:
1) Neutral in Weekly/Monthly chart
2) Very Bearish in Daily chart.
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(Disclaimer: This is only for educational purpose and paper treading. Learn and take advice from you financial advisor)
KOTAKBANK trade ideas
KotokBank - Inverted HnS with AB=CDKotakBank formed Inverted Head and Shoulders along with AB=CD with ascending triangle and symmetrical Triangle breakout. Triangle breakout and inverted Hns shows bullishness whereas AB=CD is showing limited upside move.... Lets see which one win the race AB=CD or Hns.Second PRZ is the target as per HnS it could be final reversal point...Also broke daily trendline. Perfectly retraced from golden ratio , RSI trendline is hurdle which need to be broken for upward move.
Targets on chart...
Kotak Mahindra Bank from 22 July 2020Analysis:
1. First High was created ...-> came back to support zone ( retracement zone ) --> mission to create new high
2. Attempt to break the high and create Higher High ( succeed but not by margin )
3. Again came back to support zone for spring entry to create a higher High ..
Expecting New high to be created around the level of 1440 --> 1500
Their are 2 main consolidation zone ---> will create a lot of whipsaw between the levels
MACD and RSI both showing Positive sign
MFI is on the downside ---> expecting it to increase as price increases
Setup :
1. Call setup looking not so profitable
2. Best setup seems to Sell PUT options and buy positional position
KOTAK BANK : form of ascending broadening wedge on 15min chart#KOTAKBANK after false breakout the triangle pattern on 1 day chart, stock again enter in the pattern. Stock is forming the ascending broadening wedge after a bullish movement on 15 min chart and also shown breakdown from support line that confirm the pattern.
Showing Mix result in Technical Parameter:
CCI is Neutral
RSI is Neutral
William %R is Bearish
ROC is Treading Down
Stoch is reversing from overbought zone
New short
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Support : 1315 and 1300 and 1294
Breakdown : 1340
LTP : 1350
Breakout : 1360
Long Target : 1380 and 1400
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Positive & Negative Point:
1) Bullish in Daily/weekly and Neutral on Monthly chart
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(Disclaimer: This is only for educational purpose and paper treading. Learn and take advice from you financial advisor)