KOTAKBANK is following a falling wedge pattern/Descending triangle pattern with high demand in the rectangular area. The stock has been consolidating for the past few weeks and is awaiting a big move. MACD shows little or no momentum in the last two months. The stock is currently just below the 200 MA consolidating. It has a higher chance of breaking out upside in the coming days.
The trade can be taken with an RRR of 1:5 after the breakout. First target (1:1.5) is 1830, second target 1905(1:3) and final target is 2000 - (1:5).
CMP - 1735
Wait for the breakout to enter.
Sharing for educational purpose only.
The trade can be taken with an RRR of 1:5 after the breakout. First target (1:1.5) is 1830, second target 1905(1:3) and final target is 2000 - (1:5).
CMP - 1735
Wait for the breakout to enter.
Sharing for educational purpose only.