(Short Term Cash)
October 24 2016
Kotak Bank (NSE Cash)
785 - 780
14 - 21 sessions
Source: Falcon (Chart Time: 14:30 IST)
This stock has been forming ‘Higher Top Higher Bottom’ and is thus in an uptrend. During the recent upmove
since the month of April, prices have taken support near the ‘89DEMA’ on every corrective dip. In last few
weeks, the prices have retraced post registering high around
825 and are consolidating near the ‘89EMA’
since last few days. In last two trading sessions, the prices have formed a ‘Bullish Piercing Line’ pattern on
daily charts and formation of the same near the 89EMA support is a positive sign. The ‘RSI Smoothened’
oscillator has given a positive crossover and thus, we are expecting resumption of the upmove in near term.
Thus, traders are advised to buy the stock at current level and on declines up to
780 for a target of
830 in next two months. The stop loss can be placed at
October 24, 2016
Last 6 recommendations
CMP Target 1 Target 2 Stop-loss
141 - 140
75 - 74
2430 - 2420
594 - 598
504 - 500
735 - 730
Source: Angel Research
Research Team Tel: 022 - 4000 3600 (Extn. 6552) Website:
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