Kotakbank in a descending triangle pattern.
Kotak mahindra bank has been consolidating for 3 months.
The bank is due for its quaterly results and a break out.
The stock has respected its 20 ema on daily time frame.
If the stock breaks out of the consolidation zone it can give nice long targets.
Support :- 1700, 1577
Resistance :- 1820-25, 1964
Wait for the entry above the level of 1820-25 as it will be double confirmation break out.
Swing and intraday trades can be initiated in the stock.
The bank is due for its quaterly results and a break out.
The stock has respected its 20 ema on daily time frame.
If the stock breaks out of the consolidation zone it can give nice long targets.
Support :- 1700, 1577
Resistance :- 1820-25, 1964
Wait for the entry above the level of 1820-25 as it will be double confirmation break out.
Swing and intraday trades can be initiated in the stock.
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