A Look at the Price Action in Tata Teleservices and Kotak Mahindra Bank

  • Stock Market Analysis

Greetings, fellow investors and traders! 

Today, we will look at two stocks which are Tata Teleservices and Kotak Mahindra Bank (NS: KTKM ). However, in the article, I will only focus on Tata Teleservices. This is because my analysis of Kotak Mahindra Bank is in the YouTube video attached below. I chose to analyze Kotak via a video because my interest in the stock arose from the recent news of Uday Kotak’s exit. This is because the news is poised to impact the stock significantly. Thus, due to that, I have broken down my analysis of Kotak Mahindra Bank into two scenarios. The first scenario looks at the range the stock may take in the coming two to three trading sessions due to the news. The second scenario examines how Kotak will perform in the coming weeks and whether investors ought to consider the stock.

Now coming to Tata Teleservices. The equity is one I hold as I made an entry into the stock in May of this year, with an average price of Rs. 67 per share. After which I even shared my entry via my social media handles. Now, despite the stock already netting me a return of 38%, I believe it is now entering a stronger bullish phase than seen earlier. Thus, that is the key reason behind my covering of the equity.

Now coming to the chart. In my view, if the stock in the coming sessions were to breach the resistance level at Rs. 96, then this would result in the equity reaching my two medium-term targets of Rs. 110 and Rs. 121. However, upon reaching this zone, I expect a small period of consolidation. This is because the equity will complete a strong upswing from its start at Rs. 64 which will make it terribly overbought. However, once the equity resets its overbought status, I expect it to begin its next up-move towards my medium-term target at Rs. 160. This is because I believe there is a high likelihood of the stock reaching this target if it can break the resistance levels mentioned earlier.

In summation, Tata Teleservices has performed exceptionally in the past three months. Nevertheless, I believe the up-move is far from done yet. This is because it is gearing up for an even more significant up-move towards Rs. 121 and Rs. 160. If this were to occur, then the stock would have provided investors with triple-digit returns over a longer holding period. Thus, owing to that I plan to continue holding the equity in the coming months and if I do exit the stock then I will share an update for it via my Twitter handle. Lastly, check out the video of Kotak Mahindra Bank to know what to expect in the equity. This is because I believe a lot of medium-term investors in Kotak Mahindra Bank will be coming in for a surprise in the coming months.

Disclaimer: The investments discussed by Sandeep Singh Ahluwalia may not be suitable for all investors. Thus, you must trust your analysis and judgment before making investment decisions. The report provided is for informational purposes only and should not be interpreted as a proposition to buy or sell any securities.

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  • Dilip Gjosh @Dilip Gjosh
    Very very useful
    Like 3

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