Kotak Bank
Kotak Bank
Time Frame : Weekly
Remarks : Based on price action & chart pattern analysis/observation its been since 2019 that Kotak has spent 80% to 85% of its journey into consolidation excluding covid crash & reversal.
Most underperformed stock in the nifty 50. Crossed 200 ema last week & facing descending triangle resistance. If breaks out that then will reach upside of consolidation because it is also approaching 61% fibonacci mark on day chart.
On weekly chart there's strong flat kumo which is another strong make or break resistance & sharp rally upwards in case it crosses flat kumo.
1827 is also strong support & resistance are confluence with flat kumo & above descending triangle.
Therefore, Kotak bank has reach at its most interesting point where if it really breaks out 61% on day chart + flat kumo + descending triangle then for sure it will lead bank nifty, else same story of consolidation will continue....
Regards,
Ankur Singh
Time Frame : Weekly
Remarks : Based on price action & chart pattern analysis/observation its been since 2019 that Kotak has spent 80% to 85% of its journey into consolidation excluding covid crash & reversal.
Most underperformed stock in the nifty 50. Crossed 200 ema last week & facing descending triangle resistance. If breaks out that then will reach upside of consolidation because it is also approaching 61% fibonacci mark on day chart.
On weekly chart there's strong flat kumo which is another strong make or break resistance & sharp rally upwards in case it crosses flat kumo.
1827 is also strong support & resistance are confluence with flat kumo & above descending triangle.
Therefore, Kotak bank has reach at its most interesting point where if it really breaks out 61% on day chart + flat kumo + descending triangle then for sure it will lead bank nifty, else same story of consolidation will continue....
Regards,
Ankur Singh
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.