May 3, 2019 / 5:33 AM / a month ago

BUZZ-India's Kotak Mahindra Bank at record high; chart points to more upside

** Shares of Kotak Mahindra Bank Ltd gain as much as 2.09 pct to a record high of 1,435.75 rupees

** Stock breaks above a resistance at 1,417.85 rupees, the 50 pct Fibonacci projection level of the uptrend from Feb. 29, 2016 low to July 16, 2018 high tmsnrt.rs/2WkaLix

** Breakout suggests that stock may now move up to the next resistance at 1,515.95 rupees, the 61.8 pct projection level

** Trend intensity(TI) indicator rises two points to 27, suggests prices are trending upwards

** MACD is positive and above its signal line

** Stock up 11.93 pct this year as of last close, outperforming the broader NSE Index’s 7.94 pct gains in the same period (Reporting by Gaurav Dogra)

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