KOTAK BANK

Update at 9:30


1. Breakout from Triangle so taking an entry at the price 1858.85 with 120 qty

2. Since the breakout happened in the first half of the day, we can aim for the 2nd resistance line target i.e. 1880.50

3. Though price is stuck between the previous day's high and low, indicating range bound, but our target is below the previous day's high and hence there are more chances of reaching that target.

4. Stop loss is just few points below the black line inside the triangle i.e. 1832.65


Update at 10:15 :


We can observe huge resistance displayed by sellers at the 1st resistance line plotted above. Price needs to break this line for us to hold position. If there is huge rejection candle formation from now on with good volume then I will exit and take re-entry if price crosses above this zone.


Update at 10:40


Price broke the resistance level which I earlier mentioned about. So we can hold on to our position.


Update at 11:20 :


There is bearish candle formation but the volume is so less, it can not be considered as signal of reversal of trend as it displays weak sellers strength.


Update at 11:45 :


We can observe that there is strong resistance by sellers for quite sometime now. But, buyers are not letting price to go down either. If price exceeds the upper limit shown above, then we can hold the position. If price goes below the lower limit then I am going to exit.


Update at 1:10 :


1. Price went below the lower limit which we set before

2. Exit at 1865.90 

3. Profit - (1865.90 - 1858.85 ) * 120 = 846