Kotak Mahindra Bank Ltd

RECOMMENDATION: 

BUY CMP: 2020SL: 1740 TARGET: 2300 - 2400TIMEFRAME: 3-4 MONTHS

Prices went into consolidation since Dec 2020and complete consolidation looks like“Falling wedge” patternmarked with A-B-C-D-E.It was descent price and timewise correction which took almost 8 months to complete. Price sustainability above immediate resistance of 2050 level on closing basis will trigger further momentum towards 2300 - 2400 levels in next 3-4 months. Recommendation is to Buy above immediate resistance of 2050 level keeping Stop loss at 1740 level and Target at 2300 - 2400 levels.

Weekly Chart:

RECOMMENDATION: BUYCMP: 2020SL: 1740TARGET: 2300 - 2400TIMEFRAME: 3-4 MONTHS

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