Kotak Bank - Combination of Bull and Bear Div
Updated
Kotak bank showed Bullish RSI Divergence on hourly chart and the price bounced as expected...
Now There is a Bearish Divergence on the hourly chart again which indicates The price was not able to move up as fast as it had too.
One can try and go long at 1310 with a stop loss of recent local lows of 1300.
If price closes below 1300, IT can go towards 1270. On the up side 1340 and 1360 are the targets for long.
One should look to go long around 1270 which if happens may have bigger RSI divergence and this time bounce will be big.
Trade Safe !!!
Now There is a Bearish Divergence on the hourly chart again which indicates The price was not able to move up as fast as it had too.
One can try and go long at 1310 with a stop loss of recent local lows of 1300.
If price closes below 1300, IT can go towards 1270. On the up side 1340 and 1360 are the targets for long.
One should look to go long around 1270 which if happens may have bigger RSI divergence and this time bounce will be big.
Trade Safe !!!
Trade closed: target reached
Target of 1270 achieved... If you went long at those levels, its time to book partial profit at 1313. Remaining postition can hold for 1340 with a strict stop loss.
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