Kotak Mahindra Bank Limited Stock Forecast
Stronger technical forecast for Kotak Mahindra Bank Limited stock price after Monday trading.
(Updated on May 27, 2024)
The Kotak Mahindra Bank Limited stock price gained 0.467% on the last trading day (Monday, 27th May 2024), rising from ₹1,703.00 to ₹1,710.95. During the last trading day the stock fluctuated 1.23% from a day low at ₹1,701.05 to a day high of ₹1,721.90. The price has risen in 9 of the last 10 days and is up by 4.93% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 188 thousand more shares were traded than the day before. In total, 311 thousand shares were bought and sold for approximately ₹532.23 million.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -5.05% during the next 3 months and, with a 90% probability hold a price between ₹1,444.20 and ₹1,715.10 at the end of this 3-month period.
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KOTAKBANK.BO Signals & Forecast
The Kotak Mahindra Bank Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at ₹1,698.43 and ₹1,705.75. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, May 03, 2024, and so far it has risen 10.58%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Kotak Mahindra Bank Limited stock
Kotak Mahindra Bank Limited finds support from accumulated volume at ₹1,690.80 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved ₹20.85 (1.23%) between high and low. For the last week, the stock has had daily average volatility of 1.29%.
Our recommended stop-loss: ₹1,622.86 (-5.15%) (This stock has low daily movements and this gives low risk. The RSI14 is 82 and this increases the risk substantially. There is a buy signal from a pivot bottom found 21 days ago.)
Trading Expectations (KOTAKBANK.BO) For The Upcoming Trading Day Of Tuesday 28th
For the upcoming trading day on Tuesday, 28th we expect Kotak Mahindra Bank Limited to open at ₹1,711.30, and during the day (based on 14 day Average True Range), to move between ₹1,677.68 and ₹1,744.22, which gives a possible trading interval of +/-₹33.27 (+/-1.94%) up or down from last closing price. If Kotak Mahindra Bank Limited takes out the full calculated possible swing range there will be an estimated 3.89% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹1,690.80 (1.18%) than the resistance at ₹1,737.25 (1.54%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Kotak Mahindra Bank Limited stock A Buy?
Kotak Mahindra Bank Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.365 Hold/Accumulate Upgraded
Predicted Opening Price for Kotak Mahindra Bank Limited of Tuesday, May 28, 2024
Fair opening price May 28, 2024 | Current price |
---|---|
₹1,711.30 ( 0.0205%) | ₹1,710.95 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for KOTAKBANK.BO
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 1,732.15 | 1.24 % | |
R2 | 1,724.19 | 0.774 % | ||
R1 | 1,719.26 | 0.486 % | ||
Current price: | 1,710.95 | |||
Support | S1 | 1,703.34 | -0.445 % | |
S2 | 1,698.41 | -0.733 % | ||
S3 | 1,690.45 | -1.20 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 1,809.85 | 5.78 % | |
R2 | 1,738.95 | 1.64 % | ||
R1 | 1,737.25 | 1.54 % | ||
Current price | 1,710.95 | |||
Support | S1 | 1,690.80 | -1.18% | |
S2 | 1,643.00 | -3.97% | ||
S3 | 1,575.80 | -7.90% |
KOTAKBANK Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Aug 04, 2023 | Aug 04, 2023 | Aug 25, 2023 | ₹1.50 | 0.0843% |
2 | Aug 11, 2022 | Aug 11, 2022 | Sep 02, 2022 | ₹1.10 | 0.0573% |
3 | Jul 12, 2017 | Jul 12, 2017 | Aug 19, 2017 | ₹0.600 | 0.0610% |
4 | Jul 14, 2016 | Jul 14, 2016 | Jul 14, 2016 | ₹0.500 | 0.0641% |
5 | Jun 18, 2015 | Jun 18, 2015 | Jun 18, 2015 | ₹0.90 | 0.138% |
FAQ
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