Today Kotak Bank clocked highest ever daily volume which was primarily generated during last 30 mins of Trade. A whopping 70 Mn plus shares volume.
Inspite of this thrust the share couldn't push beyond or even touch it's upward rising multi year trend line (excluding Covid Period).
This indicates sharp offloading of shares at higher level. Expect extremely...
#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...
I think KOTAKBANK has topped in a medium term. There are many things aligning up and all say that KOTAKBANK's top is in.
The RSI has divergence, There is a long term trendline acting as a resistance. Also in the shorter term there is resistance as well.
The chart is very clear and speaks for itself.
Stop loss: 1746
DATE: DECEMBER 22, 2019
Go short Kotak bank intraday , target and stop loss as mentioned in the chart .
Losing strength on hourly chart. Over all trend is sell on rise only can keep 1622 stop for back to back sell on rise based on your own risk appetite.