KOTAKBANK double bottom pattern breakout
KOTAKBANK crossed the neck line of double bottom reversal pattern with high volume breakout, which is a very good indication that the stock will perform well in the upcoming days. But as you can see in the chart above a major resistance zone is present just above the close of the last daily candle. So price may retrace back from that resistance zone to the neckline creating a pullback and then finally get back into its rally to go beyond 2100 level.
So, I will suggest you to enter long in the stock once it crosses above the resistance zone, apparently above 2150 level, keeping stop loss at around 1913 and trail this stop loss to book profit.
So, I will suggest you to enter long in the stock once it crosses above the resistance zone, apparently above 2150 level, keeping stop loss at around 1913 and trail this stop loss to book profit.
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