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The Kotak Mahindra Bank stock has been volatile since early June after the sell-off in May. Though the stock recovered somewhat in line with general sentiment towards banking counters in the last couple of days, it has been seen by some analysts to have a downward intermediate trend. The stock, analysts feel, has lately managed to trade above short term moving averages.

On Tuesday, it closed on the BSE at Rs 269.50, lower than its day's high of Rs 273.45 but higher than the previous day's close of Rs 264.30. The latest score is a shade higher than the Rs 245 it had reached a month ago.

However, it is still far apart from its 52-week high of Rs 510. Over 2.7 lakh shares made up the total traded quantity on the NSE.

Nilanjan Dey

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