KOTAKBANK trade ideas
Swing Trade #KotakBankPlease note the time graph is on Weekly.
Best Possible Entry - 1725-1730
SL - 1645-1650
Target - 1950-2050
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KOTAK MAHINDRA BANKKotak Bank is still following the Downward Channel with no near time hope of recovering.
Took Support near 1720 but the pattern shows that after a little consolidation it is continuously falling.
Volume is reducing.
It is Trading below 200 EMA on Daily Timeframe.
50 EMA is showing resistance continuously on 1 Hour chart.
Resistance Levels are 1790 - 1888 - 1938 - 1995 - 2046.
Support is at 1720.
Safe traders to make long position above 1790 -1800 only when this level is atleast tested once with Tgts 1888 - 1938 - 1995 - 2046 and StopLoss @ 1720.
This is for Educational and paper trading purpose only. Must consult your financial advisor before investing or taking any position in the market. please correlate by yourself also on charts.
KOTAKBANK - Possible Bullish ReversalNSE:KOTAKBANK is currently trading at one of the important support formed by a Fibonacci cluster as well as on a trend line. Additionally, it's near the Harmonic PRZ level of Bullish Butterfly pattern. Volume Zone Oscillator is also near the lows. If it can hold above 1810 level,Odds are that it might reverse from this level towards target #1 (1862) and then target #2 (1970).