First Head & Shoulder pattern will BO the target is mentioned. (This month)
&
Descending Triangle BO will be the move in Next month(April).
Short term target as mentioned in chart.
Happy Trading
This stock is trading in bearish channel...
now it is at the channel break out...
on top side this wants to test the supply zone at 1800 levels.
If price breaks the trendline to topside, price will again fall from this supply zone area.
keep looking for short side continuation from this supply zone or breaks the trendline on bullish side and retrace to enter short side.
This stock is now in completely consolidation stage.
A strong Rally base Rally is observed in this stock from 1300 levels...
consolidation to manipulation will be observed below the support levels...
then chances of distribution is more..
so look for long, one more rally indicating long opportunity in this stock price.
In higher time frames this stock is trading in a range...from long time
now this stock price is at its demand zone....
multiple times price takes the support from this levels...
If price comes to 1700 levels, then also keep in long side...
no short is recommended in this stock...keep looking for long opportunity as long as price is above 1700 levels.
After filling the bullish gap price is showing bullish pressure....
this stock is trending downwards from several days...
now this is turned to be bullish....keep in long side...
If sellers unable to push the price downwards again buyers will take this to higher levels...
After a strong fall price is slowly coming upwards to test the supply zone.
reaching the supply zone in a bullish channel...
now price is near to its previous demand area ...if this acts as resistance price falls.
if acts as support again reach the upside...
we have bullish gap left below....keep track these zones..
Observations::
Left Shoulder: @1980
Head @ 2060
Right Shoulder :: if forms @ 1980
we have a strong neckline @1860, which will push the price up to right shoulder again..
if price breaks the neckline will observe a retracement to neckline or 1900 zone,
then look for sell until the bullish gap finished on bottom side @ 1780-1770 levels.
Observations::
----->> The stock is facing resistance multiple times from the resistance zone @1980.
It is broken the trendline and retested the supply zone and waiting for breakout ot breakdown.
if it wants to test the Supply one more time or breakout above the resistance @1980.
Dont forget the demand zone, it will acts as a support.
And this will take the...
Observations::
Test of Supply one more time to false breakout or continue fall
Broken the trendline and retest is observed, it will fall or raise towards the resistance.
Facing resistance @ 1980 zone.
Keep 1st target @1870 levels, may price rise again.
we have Bullish gap left @ 1780 levels,
Before going to fill this gap can we expect any up move towards...
KOTAKBANK Observations:
----After Huge Gap of 65 Points Price moving upwards.
----> with Strong consolidation showing bear trap(false breakdown) price moving upwards again.
----->we have a resistance at 1980 zone, we can expect the price to reach this zone.
-----> further price action is needed whether its reversal or breakout from this zone(1980).
From the past few experiences we have watched Kotak Bank respecting its support level of 1668, which is also a strong psychological level. The price has now come again to the zone, and also the 200 EMA is providing a support to the price on the weekly timeframe, we do have a horizontal as well as trend line support. So we should expect the price to move in...
Kotakbank Support And Ressistance Its My View
I am not a SEBI registered Analyst so please do your own Analysis before taking any action.
The above view is shared just for educational purpose.
By no means shall be responsible for any losses amounting out of it incase if any trades on it.
It is just a view, pls trade at your own risk.
NSE:KOTAKBANK
the most underperforming bank until now has all value unlocking entity unlisted and technical set up suggest it time to start the big rally for next six months at least after that all media houses will start suggesting to public
targets later
Since all the banks have either broken the range or moved to all time high, I expect kotakbank to also join the party.
Besides Kotakbank has been hovering the resistance multiple time, it could possibily break this resistance this time.
If Kotak bank opens flat and moves above 1974, I would go long with a target of around 2000 and stop of 5-6.
