SAMT Blog
KOTAK Mahindra Bank - a bearish Wolfe wave and a Bullish GARTLEY pattern detected
29. August 2023, by James Touati
Technical Analysis, Wolfe Waves, harmonic patterns
This Tuesday the 29th of August in the year of our Lord 2023, Mr Wolfe Waves brings you an analysis of KOTAK MAHINDRA BANK (weekly).
Again, many of my Linkedin and Tradingview followers in India and China and UK have been asking me for an analysis of this stock. Especially Lee and Shandra. ;-)
So let's look at the chart in two-steps:
As you can see, a Black swan and two harmonic patterns have been detected weekly: last one is a GARTLEY. And for the second one (green in the middle) some purists of harmonics will see a SHARK or a NEN STAR, or a NAVARRO 200. ;-)
A rebound is possible on the PRZ of the GARTLEY.
However the trend remains bearish even if it gives the impression of being in a range, and because a Wolfe Wave (WW) has been detected before.
The potential target estimations are mentioned on the graph, and you can monitor the positions of the EMA.50, EMA.200, Bollinger bands, the "Tenkan", and the "Kijun").
NB: Don't forget that with harmonics, the proportions are often a bit different than in real trading. Don't be too academic. ;)
Be attentive and careful! Good trades.
For more details, you can contact me here by email, or on the following networks:
LinkedIn: http://linkedin.com/in/james-d-touati-941a8ba6
Tradingview: https://fr.tradingview.com/u/james-samt/
About the author
James D. Touati aka. The Wolf of Zurich is a French trader specializing in futures and CFD trading, a technical analyst and stock market trainer. In a pursuit of earning a living from trading, he has developed a profitable trading method successfully, consisting of a mix of tick data, Ichimoku, Fibonacci retracements, levels and Wolfe Waves.
credits: The Wolfe Wave pattern was originally developped by Bill Wolfe from New York. More information on his website.
James does not only speak 5 languages fluently (French, English, Russian, Spanish, Arabic), but with his solid industrial experience (former CEO JB aviation (Hong Kong), former Chairman M9 global group (link PETRONAS), former Partner CHINESE BUSINESS CLUB (Paris) he is a proven global entrepreneur as well.
Furthermore he has got a background as an intermediation and interconnection specialist for the oil&gas and the aviation industry in the Middle East and East countries.
Disclaimer: All methods, techniques, charts, analysis or results presented in this SAMT Blog are for educational purposes only. The information provided should not be construed in any way as a recommendation to buy or sell any financial instrument. You should always consult with your licensed financial advisor and tax advisor to determine the suitability of any investment to your particular financial situation. The author does not have a position in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity. SAMT and its affiliates, directors or agents will not be held liable or responsible for your investment decisions.
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