Sunday, 8 December 2013

Buy & Accumulate Karnataka Bank


Analysis: 

  • Stock made 52 week high of 198.80 (11th Dec. 2012) & 52 week low of 69.10 (6th Aug 2013)
  • Stock is facing resistance as shown by upper trendline closing above this trendline would be fresh breakout in this counter.
  • Momentum indicators RSI, MACD, ROC, ADX suggest buy action.
  • Stock is tagging the upper bollinger bands suggests buyer's interest in this counter.
Strategy: Buy & accumulate Karnataka Bank between 99-105 possible Target- 120-124 stop below 97 on closing basis. 

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