KOTAKBANK is trading near support of descending Triangle Pattern. Stock is respecting the triangle formation from the last 4 months. Further action will depend upon the outcome of pattern.
On Descending Triangle Pattern and it's structure :-
A descending triangle is a bearish chart pattern used in technical analysis that is created by drawing one trend line that connects a series of lower highs and a second horizontal trend line that connects a series of lows. It can serve as a continuation pattern if forms in downtrend and breaks below the support zone, Setup invalidates if price breaks above falling trendline.
On Descending Triangle Pattern and it's structure :-
A descending triangle is a bearish chart pattern used in technical analysis that is created by drawing one trend line that connects a series of lower highs and a second horizontal trend line that connects a series of lows. It can serve as a continuation pattern if forms in downtrend and breaks below the support zone, Setup invalidates if price breaks above falling trendline.