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Kotak Mahindra Bank Ltd BUY TECHNICAL
CMP: Rs 990 (As on 01st Sep 2017)
Buy: Rs 990-978 PICK
Target Price: Rs 1070-1120
Stop-Loss: Rs 950 Kotak Mahindra Bank Ltd offers a wide range
of banking products and financial services
Kotak Mahindra Bank Ltd for corporate and retail customers through a
variety of delivery channels and specialized
4 ARIHANT CAPITAL ยก SEPTEMBER 2017 subsidiaries in the areas of personal finance,
investment banking, life insurance, and
wealth management. It offers personal finance
solutions of every kind from savings accounts
to credit cards, distribution of mutual funds
to life insurance products. It offers transaction
banking, operates lending verticals, manages
IPOs and provides working capital loans.
It has one of the largest and most respected
Wealth Management teams in India, providing
the widest range of solutions to high net worth
individuals, entrepreneurs, business families
and employed professionals. Kotak Mahindra
Bank has a network of 1,369 branches across
689 locations and 2,163 ATMs in the country
(as of 31 March, 2017).
Technical Outlook:
On the daily chart, the stock has strong
demand zone in the range of 950 to 960 levels.
Further, the RSI has given close above 50
reading which indicates strength.
Hence we recommend buying in stock at
Rs 990 or on a decline up to Rs 978 with a
stop loss of Rs 950 for a target of Rs 1070-1120
levels.
