In the previous session, the market opened gap up and the Nifty index roared with gains of 276.30 points, hitting a fresh record high of 17843.90. One sided rally has been seen in the market on weekly expiry day. Technically, No signs of weakness have been seen yet. Hence, we recommend approaching the markets in a sector and stock-specific way. Sectors to watch are Realty, Cement and Metals.

Look at the below research report of ‘Stock to Buy for – Friday 24, 2021’before the market opens.

Kotak Mahindra Bank Ltd

NSE :KOTAKBANK   BSE :500247  Sector : Banks

Looking at the daily chart, we can expect Kotak Bank to see a fresh breakout once it sustains above 2050 level. Stock will enter uncharted territory. Relative strength index is trading above 70 which suggest clear momentum in the stock.

Bank Nifty is also ready for the up moves breaking all time highs, since last few months bank nifty has underperformed compared to Nifty Index and now seems to support the market, if Banknifty sustains above 37800 tomorrow in Friday’s trading session. Kotak bank is expected to see smart moves supporting the overall banking sector.

Looking at the chart pattern and chart structure We suggest short term traders to take a long position in Kotak bank once it sustains above 2050 for 15 mins expected targets on the upside are 2090- 2125. As tomorrow will be the last trading session of the week we recommend placing a strict stop loss below 2010 on hourly closing basis.