PL Technical Research: Buy KOTAK BANK - Technical Pick

PL Technical Research: Vaishali Parekh, Vice President - Technical Research, Prabhudas Lilladher Pvt. Ltd

BUY KOTAK BANK CMP: 1852 TRGT: 2110 SL: 1780 - TECHNICAL PICK - The stock after a decent correction has made a higher bottom formation with consolidation witnessed maintaining a strong at around 1800 levels. There is improvement in the bias and sentiment with the price moving above the significant 200 period MA of 1840 zone and there is immense upside potential from here on. The RSI indicator has flattened out after the slide and has shown gradual rise to strengthen the overall trend. With good volume participation witnessed and the chart looking attractive, we recommend a buy keeping a stop loss of 1780 for an upside target of 2110.