Indian Bank Stock Analysis: Spordiac Buy Signal on short term

Jan 5, 2024

📈 INDIANB - January 5, 2024, 12:52 PM

Current Trading Price: ₹435.10 🏷️

Opening & Key Levels:

• Today's Opening: ₹432.40 (Above 0.618 Fibonacci Level) ✅
  
• Near 50-Day Moving Average: Indicating Bullish Trend 📊
  

Technical Indicators:

• EMA & MA: No crossover yet 🔄
  
• MACD: Histogram at 0.48, MACD at 0.70, Signal at 0.22 (Positive Crossover) 📈
  
• RSI: Currently at mid-range, K at 55.02, D at 37.62 (Viable Range) 🎯
  
• %R: At -29.83 (Supportive of Bullish Trend) ⬆️
  
• Fisher Indicator: Positive crossover, Fisher at 0.80, Trigger at 0.27 (Mid-Range) ✨
  
• Parabolic SAR: Buy signal at ₹391.00 🟢
  

Target Prices & Stop Loss:

• Target 1: ₹443.65 (0.786 Fibonacci Level) 🎯
  
• Target 2: ₹458.00 (Level 1 of February Series) 🎯
  
• Stop Loss: If falls below ₹424.50 (0.5 Fibonacci Level) ⛔️
  

Overall Outlook: Bullish in the short term, but confirmation needed from other indicators. Volatility noted. Investors are advised to monitor closely.




Disclaimer: This analysis is for informational purposes only and should not be construed as investment advice. Investment decisions should be based on individual research and risk appetite. 🚫


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Jan 9, 2024

Note

Maintain the status quo.

Jan 10, 2024

Trade active

Today it went as high at 428 and still closed at the day in positive. with MACD crossover still being on buy side,will wait for 1-2 trading sessions more before tapping out on stop loss.

Jan 19, 2024

Trade active

target One achieved.