Stock of the day : Buy Kotak Mahindra Bank Ltd For Target Rs. 54 - Religare Broking Ltd
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Kotak Mahindra Bank Ltd
* Kotak Bank has been underperforming within the private banking space, after the failed attempt to surpass the hurdle at 2000.
* Seeing selling pressure after the breakdown of its previous swing low at 1820.
* After a minor breather, it reversed finding resistance around its short term average i.e. 20 DEMA suggests weakness in trend.
* We thus recommend creating short positions through the Put option.
Buy Kotak Mahindra Bank Ltd Recom. BUY 1760 PE CMP 28.75; Range 27-30; SL 14; Target 54
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