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Podcast (English) | Today's Pick: Kotak Mahindra Bank

| Updated on January 07, 2020 Published on January 07, 2020

Investors with a short-term perspective can buy the stock of Kotak Mahindra Bank as the price action hints at resumption of the bull trend after undergoing a correction during the past couple of weeks.

fter registering lifetime high at ₹1,734.8 in mid-December, the stock witnessed a moderation to the support at ₹1,640. At this level lies the 50-DMA, making the support stronger. Thus, the stock has bounced from that level and formed a hammer candlestick pattern on Monday, indicating a bullish reversal.

Investors can make use of declines to initiate fresh long positions with stop-loss at ₹1,635.

Published on January 07, 2020