Kotak Mahindra Bank daily chart is indicating a progressive trend higher and Minute Wave ((iii)) Navy could be underway soon towards 2100 while prices stay above 1600 broadly. The stock is drifting sideways for now and a break above 1830 should accelerate.

The bank stock has had a larger degree correction since October 2021 high registered around the 2250 mark. The Minor Wav A-B-C unfolded as a combination through 150 lows registered in May 2024. Also note Intermediate Wave (5) is underway now.

Kotak Mahindra Bank has lagged behind the overall Nifty 50 Index, which is at its all-times high but prices should soon accelerate as Minor Wave 3 could be unfolding with Intermediate Wave (5) Orange.

Kotak Bank Elliott Wave technical analysis

Function: Larger Degree Trend Higher (Intermediate degree, orange)

Mode: Motive

Structure: Impulse

Position: Minute Wave ((ii)) Navy

Details: Minute Wave ((iii)) is unfolding within Minor Wave 3 Grey of Intermediate Wave (5) Orange against 1602. Minute Wave ((ii)) might terminate as a triangle.

Invalidation point: 1602

Kotak Mahindra Bank four-hour chart technical analysis and potential Elliott Wave counts:

The 4H chart gives a closer look on the sub waves since 1540 low carved in May 2024. Prices carved an impulse to terminate Minor Wave 1 Grey around 1735, followed by a sharp correction to unfold Minor Wave 2.

Minor Wave 3 could be sub diving as Minute Waves ((i)) and potential ((ii)) might be in place around 1865 and 1720 levels respectively. Also note that Minor Wave ((ii)) might unfold as a triangle before terminating.

Conclusion

Kotak Mahindra Bank is progressing higher within Minute Wave ((iii)) Navy of Minor Wave 3 Grey as Intermediate Wave (5) Orange unfolds. Invalidation is around 1602 for the bullish scenario.

Kotak Mahindra 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.

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

Editor's Picks

EUR/USD gathers recovery momentum, trades near 1.1750

Following the correction seen in the second half of the previous week, EUR/USD gathers bullish momentum and trades in positive territory near 1.1750. The US Dollar (USD) struggles to attract buyers and supports the pair as investors await Tuesday's GDP data ahead of the Christmas holiday.

GBP/USD knocks ten-week highs ahead of holiday slowdown

GBP/USD found room on the high side on Monday, kicking off a holiday-shortened trading week with a fresh spat of Greenback weakness, bolstering the Pound Sterling into its highest bids in ten weeks. Pound traders are largely brushing off the latest interest rate cut from the Bank of England as the UK’s central bank policy strategy leaves the water murky for rate-cut watchers.

Gold buying remains unabated; fresh all-time peak and counting

Gold builds on the previous day's blowout rally through the $4,400 mark and continues scaling new record highs through the Asian session on Tuesday. Bets for more interest rate cuts by the US Fed, renewed US Dollar selling bias, and rising geopolitical uncertainties turn out to be key factors driving flows towards the bullion. Traders now look to the delayed release of the revised US Q3 GDP print and US Durable Goods Orders for a fresh impetus.

Year ahead 2026: Where will Bitcoin be in a year’s time?

Bitcoin, which accounts for roughly 60% of total crypto market capitalization, entered 2025 with unstoppable momentum under a crypto‑friendly Trump administration. The rally was supported by major regulatory wins and accelerating institutional adoption.

Ten questions that matter going into 2026

2026 may be less about a neat “base case” and more about a regime shift—the market can reprice what matters most (growth, inflation, fiscal, geopolitics, concentration). The biggest trap is false comfort: the same trades can look defensive… right up until they become crowded.

XRP steadies above $1.90 support as fund inflows and retail demand rise

Ripple (XRP) is stable above support at $1.90 at the time of writing on Monday, after several attempts to break above the $2.00 hurdle failed to materialize last week. Meanwhile, institutional interest in the cross-border remittance token has remained steady.