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.
SHORT TERM PERSPECTIVE
|Stop Loss (SL)||Rs.1560|
|Target Price||Rs.1700- Rs.1730|
|Time Horizon||2-4 Weeks|
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
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