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Buy Kotak Mahindra Bank, target Rs 1310

Traders can accumulate the stock in the range of Rs 1230- 1240 for the target of Rs 1310 with a stop loss below Rs 1187.

 

Kotak Mahindra Bank has been witnessing a correction since it made a new record high of Rs 1417. At the lower end, it has just found support at the 200-EMA which led to an increase in demand for the stock.
The momentum indicator RSI (14) is having a bullish divergence with the stock price. In addition, an engulfing pattern around the crucial support may set a rally in the stock.
Traders can accumulate the stock in the range of Rs 1230- 1240 for the target of Rs 1310 with a stop loss below Rs 1187.
MORE WILL UPDATE SOON!!

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