Stocks to Buy: Here's why Kotak Bank, IndusInd Bank are a buy
Indusind Bank shows strong potential for a breakout, with both daily and weekly charts indicating upward momentum. The stock rebounded from a support level with high trading volume and closed above a critical moving average. Additionally, RSI suggests increasing momentum.
A strategic buy range is 1455-1470, with a stop loss at 1430 and a target of 1525. 3) Buy KotakBank 1770 TGT 1820/1860 SL 1740 Kotak Bank has recently undergone a base formation on the daily chart. This pattern is characterized by the presence of strong buying activity, confirming a bullish undertone in the stock.
The momentum indicator RSI is displaying positive divergence, which serves as an early indicator of a potential trend reversal to the upside. This suggests that the stock may be poised for a bullish move. The stock has a visible support level at 1700, which is acting as a cushion for the bulls.
This support level is crucial for maintaining the bullish sentiment. Given the strong buying, positive RSI divergence, and the support at 1740, the stock has the potential to reach upside targets of 1820 and 1860. The author, Kunal Shah is Senior Technical & Derivative analyst at LKP Securities. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions. "Exciting news! Mint is now on WhatsApp Channels
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