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Kotak Bank- Impulse formation

Long
KOTAK MAHINDRA BANK LTD. (BSE:KOTAKBANK)  
TradingSutra  
BSE:KOTAKBANK   KOTAK MAHINDRA BANK LTD.
Trend Analysis Wave Analysis Elliott Wave stockstobuy kotakbanklong kotakbankltd BANKNIFTY stockmarketanalysis stockmarketindia Technical Analysis elliottwaveforecasts
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trendanalysis waveanalysis elliottwaves stockstobuy kotakbanklong kotakbankltd banknifty stockmarketanalysis stockmarketindia technicalanalysis elliottwaveforecasts
After a 5-waves up stock has corrected to 50%-61.8% Fibonacci retracement level and bounced back forming HH HL. Considering the rise as wave-1 and the fall as wave-2 , the current bounce is suggesting that stock is unfolding it's 3rd wave which shall take the prices towards 2230-50 zone in the coming weeks.

TRADING STRATEGY:

Buy near 1970 , SL: 1830 TGT: 2230-50/ 2480
Manish Bhardwaj (CMT L-1)
Analyst & Co-Founder
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