Stock of the day : Kotak Mahindra Bank Ltd For Target Rs. 35 - Religare Broking Ltd
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Kotak Mahindra Bank Ltd
* Kotak Bank is trading in a steady downtrend and there is no sign of reversal.
* It rebounded marginally of late but couldn’t hold above the resistance zone of short term moving average (20 EMA).
* Chart pattern combined with fresh weakness in the banking space is pointing towards the prevailing tone to continue.
* We thus recommend creating fresh shorts through Put in the mentioned range.
BUY NOV 1700 PE Kotak Mahindra Bank Ltd CMP 20.80; Range 19-21 SL 13 ; Target 35
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