Kotak Mahindra Bank Ltd

NSE :KOTAKBANK   BSE :500247  Sector : Banks

As shown on the daily chart, price has given a breakout of Symmetrical triangle pattern. In the previous session a Bullish engulfing pattern occurred on the candle which indicates as per the candle technique the short-term bias is now bullish. We can expect a trending move as long as prices sustain above the middle of the Band Bollinger and oscillates between the middle and the upper band.

In short, KOTAKBANK looks to be positive for now. Move towards 1830 or higher levels can be seen as long as 1725 remains intact on downside.

Check More Analysis on KOTAKBANK at: Kotak Mahindra Bank Ltd

Piramal Enterprises Ltd

NSE :PEL   BSE :500302  Sector : Pharmaceuticals

On the daily chart PEL ltd is moving in impulse wave pattern. Wave 4 is completed near 1600 levels and now wave 5 is in progress. Stock had finally given breakout over its consolidation phase. Ichimoku cloud has given the indication of positive strength as prices have broken above the cloud in previous trading session.

The overall outlook for Piramal Enterprises Ltd will remain Positive. Use dips as buying opportunity for a move towards 1850 and then 1890 levels as long as we do not see any closing below the previous day low.

Check More Analysis on PEL at: Piramal Enterprises Ltd