Buy Kotak Bank: Mitesh Thacker

Mitesh Thacker, Technical Analyst, miteshthacker.com, in a chat with ET Now, gives his views on banking stocks.

What is your call on the banking space?

Kotak Bank is breaking out of a big triangular pattern. Technically it is a very important event, taking a 4%, 4.5%, 5% stop loss which is about below 510 which was the breakout level.

This stock can be bought at current levels also. There is a big weekly breakout happening over here and my sense is that the first targets would be in the range of 580 to about 600 with possibilities of the target being exceeded much on the upside.

So, this is a stock which is very interesting to me right now and the other ones they are going through a normal profit booking phase nothing much.