The daily chart reveals Kotak Bank is in a corrective counter-trend phase within a broader market structure. Orange Wave 2 is unfolding as part of a larger bearish move under Navy Blue Wave 3. This suggests the prior downtrend (Orange Wave 1) has paused temporarily.

The chart confirms Orange Wave 1 is complete, and the stock is currently in a corrective bounce via Orange Wave 2. The upside during this phase is likely limited. A breach above 1681 would invalidate this wave count and indicate a possible shift in trend or a more complex correction.

Traders should monitor closely for signs of completion in Orange Wave 2, as this would signal the beginning of a new bearish leg in Orange Wave 3. This setup offers a framework to manage trades during a corrective window while preparing for the next downward phase.

Kotak Bank day chart

Kotak Bank Elliott Wave technical analysis

Function: Counter Trend.

Mode: Corrective.

Structure: Orange Wave 2.

Position: Navy Blue Wave 3.

Direction next higher degrees: Orange Wave 3.

Details: Orange Wave 1 appears complete; Orange Wave 2 is now in progress.

Wave cancel/invalidation level: 1681.

The weekly chart analysis positions Kotak Bank in a counter-trend corrective structure. The unfolding of Orange Wave 2 within the larger Navy Blue Wave 3 sequence suggests the stock has paused after completing its initial downward move.

This indicates a retracement is taking place rather than a new upward trend. The current move should be viewed as a corrective bounce with limited potential. If the price breaches the 1681 level, the current wave count becomes invalid, possibly pointing to a trend reversal or an extended correction.

Investors should be aware that this is a complex counter-trend structure and prepare for potential downside once Orange Wave 2 concludes. Proper risk controls and awareness of reversal zones are essential to managing exposure during this stage.

Kotak Bank weekly chart

Kotak Bank Elliott Wave technical analysis [Video]

Author

Peter Mathers

TradingLounge

Peter Mathers started actively trading in 1982. He began his career at Hoei and Shoin, a Japanese futures trading company.

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