KOTAK bank chart study
KOtak bank spot cmp 1960
Elliot wave
60mins time frame
counter is on verge to complete impulse phase and once trend line breakdown is confirmed with bearish candle, corrective phase might unfold.
Another scenario is that one more high around 1990-2000 levels is possible and after that fall might start,
Bearish divergence on RSI and MACD indicator , with respect to price.
Counter have given good run up from 1650 levels to 1974
now time to retrace, can give retracement of 38 to 50% of last swing.
Keep watch,
Elliot wave
60mins time frame
counter is on verge to complete impulse phase and once trend line breakdown is confirmed with bearish candle, corrective phase might unfold.
Another scenario is that one more high around 1990-2000 levels is possible and after that fall might start,
Bearish divergence on RSI and MACD indicator , with respect to price.
Counter have given good run up from 1650 levels to 1974
now time to retrace, can give retracement of 38 to 50% of last swing.
Keep watch,
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