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Buy Kotak Mahindra Bank 1720 PE For Target Rs.60 - Religare Broking
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Derivative Ideas
KOTAKBANK shed 3.04% and closed at 1737.35 on 13th June. The BANKING Sector has been witnessing pressure and KOTAKBANK is trading in sync. The stock has broken below its trend line support with a bearish runaway gap. The move happened with incremental volumes and addition of Fresh Shorts in its FUTS. We expect further pressure going forward and thus suggest initiating Shorts with the PE option.
Strategy:- Buy KOTAKBANK 1720 PE@ 28-32, STOPLOSS 17, TARGET 60.
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