Stock of the day : Kotak Mahindra Bank Ltd For Target Rs. 62 - Religare Broking Ltd
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Kotak Mahindra Bank Ltd
* Kotakbank has been underperforming within private banking space, witnessing pressure on rise.
* It has witnessed a fresh breakdown from a distribution pattern (Head and Shoulder) with noticeable volumes.
* It has also slipped below long term moving averages indicates bearish tone to continue.
* We thus recommend creating shorts through the Put option.
BUY 1780 PE Kotak Mahindra Bank Ltd CMP 32.55; Range 31-33 SL 16 ; Target 62
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SEBI Registration number is INZ000174330
