Kotak Mahindra Bank Ltd

NSE :KOTAKBANK   BSE :500247  Sector : Banks

About Company: Kotak Mahindra Bank is a diversified financial services group providing a wide range of banking and financial services including Retail Banking, Treasury and Corporate Banking, Investment Banking, Stock Broking, Vehicle Finance, Advisory services, Asset Management, Life Insurance and General Insurance.

News in KOTAKBANK: There was no Major news in the stock amid Thursday weekly expiry Kotak bank supported Banking Index to Hit all time highs. The subdued session took pace and fresh range breakout has been seen in bank index. Rally was led by Kotak bank today.

Technical Outlook on KOTAKBANK:

Stock on Thursday weekly expiry on 21-Oct-2021 topped the F&O segment with gains of 6.37% and closed at 2143.75, Looking at the daily chart it can be observed the stock is trading in an upwards trending channel pattern. Breaching previous 52week highs and touched all time highs. Stock is ready for further up move. Previous resistance zone of 2045- 2030 would act as strong support for the stock.

We recommend traders to go long on KOTAK BANK at current level and add more till 2030 with stop loss placed below 2000. Expected targets of the upside are 2245- 2270 in the next few trading sessions.