KOTAK BANK | TRADE SETUP for 26-07-2021

2021年7月25日

KOTAKBANK

On, 19-07-2021 and 20-07-2021, it was making lower lows, while RSI on that was making higher lows. This will be the bullish divergence.
I have marked this bullish divergence with orange line.

Now If you see the price action it has formed double bottom and it closed above critical range of 1718-1720.

Trade plan for 26-07-2021
1) If it able to hold above 1720 and trade above it then there will be easy trade on buy side and targets are marked on the chart.

2) If it open with gap up then wait 15-20 min to get it cool down and if you see in this 15-20 min going down to take support from 1720 range or even from 1700 range and it makes the hammer candle in this range then it will be the sign of reversal of trend and it will give bullish trade.

3) If it open with gap down then wait 15-20min and if you see in this time if it breaks 1720 range and trade above it then this will be sign of the uptrend but a green candle need to be closed above 1720. But if it faces resistance then it will again consolidate in 20point range from 1700-1720 and then we can just wait for the levels to reach take trade on either side.

3) Short trade can be only made below 1690 level. Target for short/sell trade already mentioned on chart.