EXACTLY ONE MONTH BACK ON JULY 26 I POSTED IN MY BLOG TO SELL KOTAK BANK BELOW 680 FOR TARGETS 630 THE TARGET WAS ACHIVED AND THE STOCK IS NOT STOPPED FALLING
THIS MY MY UPDATE ON JULY 26 TH
http://trendzofmarket.blogspot.in/search/label/KOTAK%20MAHINDRA%20BANK
NOW I WISH TO AGAIN HAVE A RE LOOK AT THE STOCK
The stock has been in a super uptrend on long term charts.
600 has been a strong support for last 1 year. Earlier the same was a resistance.
Longer term trend line also comes at 600.
The strategy in such case should be to watch for either strong reversal above recent weekly highs like 650-660 for a reversal or initiate fresh shorts on momentum below 600.
Sustaining below 600 will open up downsides to 520-550 which has been last 2-3 year lows.
The major reason to look for Kotak is the fact that Bank Nifty has broken major trend lines on long term so many other banking stocks could do the same.
THIS MY MY UPDATE ON JULY 26 TH
http://trendzofmarket.blogspot.in/search/label/KOTAK%20MAHINDRA%20BANK
NOW I WISH TO AGAIN HAVE A RE LOOK AT THE STOCK
The stock has been in a super uptrend on long term charts.
600 has been a strong support for last 1 year. Earlier the same was a resistance.
Longer term trend line also comes at 600.
The strategy in such case should be to watch for either strong reversal above recent weekly highs like 650-660 for a reversal or initiate fresh shorts on momentum below 600.
Sustaining below 600 will open up downsides to 520-550 which has been last 2-3 year lows.
The major reason to look for Kotak is the fact that Bank Nifty has broken major trend lines on long term so many other banking stocks could do the same.
