24 Aug 2020 ● 05:29 AM
Kotak Mahindra banks entire pattern from March to date has the visual look of a triangle even though I think the move up in early June was a impulse wave and so marked it as 1/A. Prices have taken support on the lower end of the triangle and bounced off it in the last 2 days pushing the daily momentum indicators back into buy mode. The question is now are we ready then to breakout of the triangle. The lower end of the pattern is at 1330. The breakout point is at 1430. Above that 3=1 goes to 1685.