Technical Report on Kotak Bank CMP: 640
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naresh0...@yahoo.co.in
Apr 8, 2008, 9:05:31 AM4/8/08
to Kences1
Kotak Bank is consolidating in a range of 600 -650 levels in last few
trading sessions. The
14-day RSI is indicating the stock to be in the 'oversold' territory
thereby negating
any significant sell-off in the short term. The21-day EMA is placed at
around 600 levels
where the stock is facing strong resistance @ 700 .A sustained close
above 700 levels will
help the stock to test its 50-day EMA level placed at around 800
levels. The 8-day
EMA level is placed at around 650 levels.Immediate support is placed
at around
550 levels. Investors are advised to accumulate the stock in the
range of 600-650 levels for an
medium term -term target of 850 & 900.All long positions in the
stocks should
be protected with a stop loss placed below540 levels on a closing
basis.
trading sessions. The
14-day RSI is indicating the stock to be in the 'oversold' territory
thereby negating
any significant sell-off in the short term. The21-day EMA is placed at
around 600 levels
where the stock is facing strong resistance @ 700 .A sustained close
above 700 levels will
help the stock to test its 50-day EMA level placed at around 800
levels. The 8-day
EMA level is placed at around 650 levels.Immediate support is placed
at around
550 levels. Investors are advised to accumulate the stock in the
range of 600-650 levels for an
medium term -term target of 850 & 900.All long positions in the
stocks should
be protected with a stop loss placed below540 levels on a closing
basis.
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