TheChartereds

KOTAK BANK: The WIPRO of Banking sector!

TheChartereds Updated   
NSE:KOTAKBANK   KOTAK MAHINDRA BAN
The chart is pretty self-explanatory as always. Also, as usual, below are some good-to-know pointers:

- The stock has been range-bound for 2.5+ Years with clear support and resistance
- The 2000 mark holds a strong resistance
- The stock has a death cross on its daily chart
- The PE has slightly improved
- Now to the breaking news:
- Mr. Uday Kotak has resigned as the MD and the CEO
- The market may take it either way.
- Given that the stock did not do well in the last 2.5 years, a change in top management may be viewed as a positive change
- Given that it is Mr. Kotak who resigned, It may also be considered as a blow to the bank's leadership. However, Uday Kotak still holds more than 25% shareholding in the company. He would definitely continue to be the mentor for the upcoming CEO
- The next couple weeks will tell us the overall view of the market

What do you make of this price action? Will it plunge on Monday?

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