KotakBank consolidating from one year will it give Breakout ?
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KotakBank consolidating from Dec 2021 to Nov 2022
The range of consolidation is 1625 to 1975, Bank Nifty moved in range of 10000 to 12000 point in last one year.
Bank Nifty moved 10000 point since Jun 2022. The move lead by ICICI Bank, Axis Bank, SBI , HDFC Bank and Along with PSU BANK
Kotak Bank and Indusind Bank has not moved in rally, So when Index start correcting I expect Kotak Bank and Indusind Bank will help fall of bank nifty.
Buy Kotak Bank Above 1980
Target1 2040
Target2 2100
Target3 2200
SL 1880
Consolidating in zone
Tested zone of 1950-2000 more than 8 times so if gives breakout that will healthy breakout.
Global cue should support market direction
The range of consolidation is 1625 to 1975, Bank Nifty moved in range of 10000 to 12000 point in last one year.
Bank Nifty moved 10000 point since Jun 2022. The move lead by ICICI Bank, Axis Bank, SBI , HDFC Bank and Along with PSU BANK
Kotak Bank and Indusind Bank has not moved in rally, So when Index start correcting I expect Kotak Bank and Indusind Bank will help fall of bank nifty.
Buy Kotak Bank Above 1980
Target1 2040
Target2 2100
Target3 2200
SL 1880
Consolidating in zone
Tested zone of 1950-2000 more than 8 times so if gives breakout that will healthy breakout.
Global cue should support market direction
Note
Still consolidating
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