😎 Summer Sale Exclusive - Up to 50% off AI-powered stock picks by InvestingProCLAIM SALE

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

Published 04-09-2023, 09:34 am
Updated 09-07-2023, 04:02 pm
TTML
-

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.

Latest comments

Loading next article…
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.