The chart is pretty self-explanatory as always. Also, as usual, below are some good-to-know pointers:
- The stock has been range-bound for 2.5+ Years with clear support and resistance
- The 2000 mark holds a strong resistance
- The stock has a death cross on its daily chart
- The PE has slightly improved
- Now to the breaking news:
- Mr. Uday Kotak has resigned as the MD and the CEO
- The market may take it either way.
- Given that the stock did not do well in the last 2.5 years, a change in top management may be viewed as a positive change
- Given that it is Mr. Kotak who resigned, It may also be considered as a blow to the bank's leadership. However, Uday Kotak still holds more than 25% shareholding in the company. He would definitely continue to be the mentor for the upcoming CEO
- The next couple weeks will tell us the overall view of the market
What do you make of this price action? Will it plunge on Monday?
Have Requests, Questions, or Suggestions? DM us or comment below.👇
⚠️Disclaimer: We are not registered advisors. The views expressed here are merely personal opinions. Irrespective of the language used, Nothing mentioned here should be considered as advice or recommendation. Please consult with your financial advisors before making any investment decisions. Like everybody else, we too can be wrong at times ✌🏻
- The stock has been range-bound for 2.5+ Years with clear support and resistance
- The 2000 mark holds a strong resistance
- The stock has a death cross on its daily chart
- The PE has slightly improved
- Now to the breaking news:
- Mr. Uday Kotak has resigned as the MD and the CEO
- The market may take it either way.
- Given that the stock did not do well in the last 2.5 years, a change in top management may be viewed as a positive change
- Given that it is Mr. Kotak who resigned, It may also be considered as a blow to the bank's leadership. However, Uday Kotak still holds more than 25% shareholding in the company. He would definitely continue to be the mentor for the upcoming CEO
- The next couple weeks will tell us the overall view of the market
What do you make of this price action? Will it plunge on Monday?
Have Requests, Questions, or Suggestions? DM us or comment below.👇
⚠️Disclaimer: We are not registered advisors. The views expressed here are merely personal opinions. Irrespective of the language used, Nothing mentioned here should be considered as advice or recommendation. Please consult with your financial advisors before making any investment decisions. Like everybody else, we too can be wrong at times ✌🏻
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#RBI bars #KotakMahindraBank from onboarding new customers via its online and mobile channels, and from issuing new credit cards. Services can continue for existing customers.
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