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In terms of price action, the stock is now trading well above most of the crucial short- and long-term moving averages such as 5,10,30,50,100 and 200-DMA on the daily charts which is a positive sign for the bulls. The daily Relative Strength Index (RSI) is at 66.9. RSI below 30 is considered oversold and above 70 is considered overbought, Trendlyne data showed. The daily MACD is above its center and signal Line, this is a bullish indicator. ....
The appointment of Ashok Vaswani as the new CEO of Kotak Mahindra Bank brings a period of uncertainty to an end, but another period of uncertainty may lie ahead as external candidates often have trouble adjusting to the culture of the organization. Kotak s valuation remains at a premium compared to ICICI Bank and HDFC Bank, making it less attractive for investors. However, if the stock falls by 10-15%, it could present a contrarian buying opportunity. Other private banks like IndusInd and ICICI Bank are expected to continue outperforming. ....