AMITDANGI

COUNTER TREND AND TREND CONTINUATION OPPORTUNITY

Long
NSE:KOTAKBANK   KOTAK MAHINDRA BAN
KOTAKBANK HAS BEEN IN VERY STRONG BULLISH MOVE ON DAILY CHART SINCE SEPTEMBER-2018. THERE IS NO SIGN OF WEAKNESS IN STOCK. SO OUR PROJECTED TARGET FOR STOCK IS AROUND INR 1840/- MARK ( PROJECTED ON THE BASE OF BULLISH FLAG BREAK OUT). STOCK HAS RSI BEARISH DIVERGENCE FROM 12-20 DECEMBER 2019 (MARKED WITH WHITE ARROW). AND PRICE HAS SHOWN SOME WEAKNESS BY HIGH MOMENTUM BEARISH CANDLE ON 20-DEC-2019, FOLLOWED BY INSIDE BAR ON 23-DEC-2019. IF PRICE BREAKS BELOW INSIDE BAR INR 1695.10 MARK WE CAN TAKE SHORT POSITION AS COUNTER TREND TRADING OPPORTUNITY FOR INTRADAY POSITION OR ALL THE WAY TO RETEST OF TOP TREND LINE OF BULLISH FLAG AROUND INR 1650 TO 1625 MARK. FROM THERE WE CAN LOOK TO LONG AGAIN FOR THE RETEST OF RECENT HIGH OF INR 1734 OR EVEN FURTHER AROUND INR 1825-1840 MARK AS MEASURED MOVE OF BULLISH FLAG BREAK OUT.
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