KOTAK MAHINDRA BANK LTD

Kotak Bank Head & Shoulders on Hourly timeframe

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I expect the H&S pattern to fail since this is a bearish pattern but Kotak is in a strong uptrend. If we get a good hammer candle or a bullish engulfing/marubozu candle here then we can expect that it will rally strongly from here till the weekly CPR(target). If the pattern sustains and Kotak does fall then we can short when the price comes back up to retest after the first leg down. Keep an eye on tpe of volumes coming in.

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