#kotakmahindrabank:flag pattern&channel breakout
momentum and trend indicator now showing that all timeframes are bullish
stock had earlier broken out of resistance zone back in nov 20 but had retraced back
to take support at previous resistance and then bounced from change in polarity aug 2021.
Monthly weekly had been retracing in a trendline channel forming a flag pattern
which broke out further up last week. There is likely for further up-move and an entry
above current candle high with stop loss close below neckline on resistance zone
could work out.
stock had earlier broken out of resistance zone back in nov 20 but had retraced back
to take support at previous resistance and then bounced from change in polarity aug 2021.
Monthly weekly had been retracing in a trendline channel forming a flag pattern
which broke out further up last week. There is likely for further up-move and an entry
above current candle high with stop loss close below neckline on resistance zone
could work out.
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