KOTAKBANK--@Trading In Channel??This stock is trading in bearish channel...
now it is at the channel break out...
on top side this wants to test the supply zone at 1800 levels.
If price breaks the trendline to topside, price will again fall from this supply zone area.
keep looking for short side continuation from this supply zone or breaks the trendline on bullish side and retrace to enter short side.
Kotakbankbearish
KOTAKBANK--Near its Bullish gap??The stock is trending downwards....
price is now near to bullish gap...a strong rise is observed from this gap...
If it is a bullish turn price will take the support from this area... then look for buy side....
If this area pushes the price upside...we will on long side until the trendline...
again will look for sell at trendline if no break detected.
If It is a continuous fall it will reach the 1680 and 1700 levels...
KOTAKBANK Analysis??After a strong fall price is slowly coming upwards to test the supply zone.
reaching the supply zone in a bullish channel...
now price is near to its previous demand area ...if this acts as resistance price falls.
if acts as support again reach the upside...
we have bullish gap left below....keep track these zones..
KOTAKBANK--Trendline + Retest ??Observations::
Test of Supply one more time to false breakout or continue fall
Broken the trendline and retest is observed, it will fall or raise towards the resistance.
Facing resistance @ 1980 zone.
Keep 1st target @1870 levels, may price rise again.
we have Bullish gap left @ 1780 levels,
Before going to fill this gap can we expect any up move towards resistance to test again for break.
KOTAKBANK : W Pattern Kotakbank : after downtrend in hourly charts now breakout of LL LH and created W pattern. also its near Flip resistance. If resistance break and and retest it will start upward journey in hourly chart.
If unable to sustain then it can go back to retest support zone.
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Disclaimer
I am not sebi registered analyst
My studies are Educational purpose only
Please consult with your Financial advisor before trading or investing
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)