TARGET: Rs 940
STOP LOSS: Rs 880
The stock has formed a sideways channel in its wave 4 on the daily charts. Post wave 4 there is a wave 5 upside which is expected from here on. The momentum indicators are well in buy mode, hence we recommend initiating a buy on this stock.
TARGET: Rs 1,270
STOP LOSS: Rs 1,411
The stock has formed a bearish wedge pattern in its wave 5 which is a bearish reversal sign. The momentum indicators on the daily charts have gone into sell mode which is also a bearish reversal sign. The stock has broken the rising wedge pattern which is a further confirmation of the same.
KOTAK BANK: BUY
TARGET: Rs 1,402
STOP LOSS: Rs 1,306
The stock has provided a breakout from the sideways consolidation that is formed on the daily charts. The momentum indicators on the daily charts are also quite oversold, hence we recommend a buy on this.
Disclaimer: The analyst may have positions in any or all the stocks mentioned above.