Is it Long or Short on Kotak Mahindra Bank Ltd

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After reaching the 52-week high price of Rs.1740 on 19th Feb 2020, the bank’s share prices started plummeting on the same day, as the price fell to Rs.1701 during the end of the trading sessions. The bank had experienced the change in price movements as it received an approval from the central bank i.e.., Reserve Bank of India (RBI) to its plan of diluting the shareholding pattern of the promoters in the bank.


 
The above graph of Parabolic SAR shows that the shares of the bank are experiencing an upward trend but the past three days of trading sessions have stated that the share prices of the bank are falling and it is denoted through the moving average. The 52-week high price was shattered by the following trading sessions as the price started to plummet and also the candlestick on that particular wednesday has a bearish candle which was continued by the following trading sessions.

The Ichimoku cloud indicator also shows that the green cloud of the stock has ended and the conversion line along with the chikou span(lagging line) denotes a downward trend in the price movements and also the bearish trend of the stock has been followed. Eventhough the share price of the bank rose up to Rs.1682.75, the market sentiment of the traders and investors has changed for the current day trading sessions as the price of the share was Rs.1655 when the market opened which clearly depicts the bearish trend for the stock.



As the price movements take place, the market sentiments would always interfere in the price movements to correct the change in trend of the market. But the bearish trend for the stock wouldn't be longer as the price would start rising once it reaches the support level or some unexpected events in favour of the bank.

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