Technical Analysis of Indian Equities by Nooresh

Kotak Mahindra Bank – Long Term Trendline

Kotak Mahindra

AUGUST 31-1 September


Kotak Mahindra Bank Technical Analysis


-> The stock has been in a super uptrend on long term charts.

-> 600 has been a strong support for last 1 year. Earlier the same was a resistance.

-> Longer term trendline also comes at 600.

-> The strategy in such case should be to watch for either strong reversal above recent weekly highs like 650-660 for a reversal or initiate fresh shorts on momentum below 600.

-> Sustaining below 600 will open up downsides to 520-550 which has been last 2-3 year lows.


The major reason to look for Kotak is the fact that Bank Nifty has broken major trendlines on long term so many other banking stocks could do the same.

Article by Nooresh Merani

Nooresh has written 2799 articles.

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{ 2 comments… add one }
  • Jaya August 27, 2013, 16:00

    Dear Nooresh,

    I refer to your earlier post on Tech Mahindra. I am sorry that i could not find that post, therefore am writing this under Kotak Mahindra. Although am a Satyam investor and now a Tech M investor, i hear that when Re appreciates, Tech companies that have gained, will begin to fall. I find this logic unreasonable for Tech M, due to its sound fundamentals. Please do share your view. I feel TechM is still very much under valued compared to its peers.


    • Nooresh August 27, 2013, 16:06

      I may not have a detailed view on the fundamentals of the company but technically we can be looking at 1500-1800


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