Thursday, 9 May 2013

Chart update : Kotak Mahindra Bank

Kotak Mahindra Bank Chart: 

Daily Chart

30 Mins Chart: 

Kotak Bank is moving in well formed uptrend channel. Price has touched upper channel price yesterday. Currently counter is facing resistance at upper trend line. 

Few interesting things to note in 30 mins charts : 
  1. Price were moving in well formed red price channel from recent lows to high.
  2. After breaking the price channel the ROC in price has slowed down and price are moving in blue channel. 
  3. Last but not the least price have given breakdown to green symmetric triangle (Pattern to trade). 
On the upside 728-30 will act as resistance zone, while on the down side 
722-18 will act as support zone. Once below 718 target for counter is 710,702 and 695. On the other side close above 730 will add strength to counter. 

So plan your trade accordingly.

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Happy Trading. 

All the views and contents mentioned in this blog are merely for educational purposes and are not recommendations or tips offered to any person(s) with respect to the purchase or sale of the stocks / futures. I do not accept any liability/loss accruing from the use of any content from this blog. All readers of this blog must rely on their own discretion and neither any analyst nor any publisher shall be responsible for the outcome.

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