Technical Outlook & Trading Strategy:-
The share price of Kotak Mahindra Bank has registered a head and shoulders breakdown.
This is a bearish formation and the measuring implication of the pattern suggests that the price can decline towards the levels of Rs 420 / Rs 410 levels.
The momentum indicators have also turned into sell mode which displays weakness in the counter.
Traders can look to sell at current levels with a stop loss placed above Rs 460.60levels.
