Kotak Mahindra Bank’s segments include Treasury, BMU and Corporate centre, which includes dealing in debt, equity, money market, forex market, derivatives and investments and primary dealership of Government securities and Balance Sheet Management unit (BMU); Retail Banking, which includes lending and credit cards; Corporate/Wholesale Banking, which includes wholesale borrowings and lending, and other related services; Vehicle Financing, which includes retail vehicle finance and wholesale trade finance; Other Lending Activities, which includes financing against securities and other loans.

Kotak-Mahindra-Bank-chart-2019-11-16

SHORT TERM PERSPECTIVE

Company KOTAKBANK
Recommendation Accumulate (Rs.1600-Rs.1610)
CMP Rs.1622.75
Stop Loss (SL) Rs.1560
Target Price Rs.1700- Rs.1730
Time Horizon 2-4 Weeks

 

Kotak-Mahindra-Bank-graph-2019-11-16

Source: Capitaline Database, EWAL Research

 

Intermediate and long term trend is up in this stock. After a mild correction stock is trying to reverse from the previous breakout level which is placed around 1550 levels.  Stock has developed short term base near to 50 day EMA and formed higher top higher bottom formation, this is bullish pattern in nature. Increasing in volume and positive diversion from oscillator indicate that stock can move higher from current levels.  Due to market volatility we are advising to accumulate this stock between (Rs. 1600-Rs. 1610) with a stop loss of Rs. 1560 (closing basis) for the target price of Rs. 1700- Rs. 1730. Time frame should be 2-4 weeks.


 DISCLOSURE IN PURSUANCE OF SECTION 19 OF SEBI (RA) REGULATION 2014

Elite Wealth Advisors Limited does/does not do business with companies covered in its research reports. Investors should be aware that the Elite Wealth Advisors Limited may/may not have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as read more


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