Technical call – buy KOTAK BANK above 770 (closing basis) sl 740 target 810-840 and below 740 to take positional sell.

if kotak bank not able to close above given level and if it gives negative close on charts so after breaking 740 level we can see downside target of 690-640 also. So one can think about this also, if it confirm the down trend then one should take a selling position below given level. for positional confirmation it should able to give close above/below given level and 2nd day also able to confirm it according to trend.

Technical view –  As we look at the kotak bank chart, we can see that it has exactly taken support at the trend line and now looking from a bounce from there, so once it confirm this reversal then we can think about more up movement in stock.

now just notice the bollinger band looking very interesting on chart, in feb, march and half of April it has done the consolidation which we can see on chart where bollinger band get squeeze and immediately after that it has given a big breakout in price where it price has  done riding of bollinger bands, where we have seen movement from 650 to 810 range. now it has slow down its trend and just touched the lower band of bollinger and in last trading session it came out from oversold zone of bollinger bands. this can give us a little hint that trend has started to reverse again and if same is confirm on price chart then again up move to see on chart.

STOCHASTIC also came out from oversold zone which can also indicate of some up movement only after price chart confirm the same.

Stock has also form BULLISH GAP UP candlestick pattern in last trading session on 14th june 2013.

also it has given INVERTED HAMMER candle on 11th june 2013, so if price is able to cross this level and able to give close above this candle then we can confirm the up move.

so over all study confirms that price need to confirm its up trend by giving close above breakout level for 2 trading session then only this reversal will get confirmation, but again if not able to confirm reversal and break the downside support then we can not avoid the fall in stock.