Kotak Mahindra Bank technically looking strong

Kotak Mahindra Bank (KMB) is one of the under performer in the current bull market. The stock is at similar levels as it was in December 2019 compared with nifty that has increased by >40% during this period.

However, it seems that KMB is now trying to make a move. Checkout the chart below.

On all parameters, the stock seems to be testing breakouts and if the overall markets remain neutral to +ive, the stock may come out of the consolidation soon.

Fundamentally also, with overall economic indicators improving, the concerns around the baking sector are gradually getting mitigated.

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