Rahul Sharma of Equity99 has a sell call on Kotak Mahindra Bank with a target price of Rs 1,210.The current market price of Kotak Mahindra Bank is Rs 1,212.90.Time period given by the analyst is Intra Day when Kotak Mahindra Bank price can reach the defined target.
Rahul Sharma recommended keeping a stop loss at Rs 1,238."The stock has broken its strong support area and is looking weak on the chart.
Weak rupee will create panic in banking stock.
We recommend selling around 1,227-1,230 with the stop loss of 1,238 for the target of 1,210," said Sharma.
Kotak Mahindra Bank, incorporated in the year 1985, is a banking company (having a market cap of Rs 2,33,584.72 crore).