Indian Bank Stock Analysis: Spordiac Buy Signal on short term

finogent Updated   
πŸ“ˆ INDIANB - January 5, 2024, 12:52 PM

Current Trading Price: β‚Ή435.10 🏷️

Opening & Key Levels:

  • Today's Opening: β‚Ή432.40 (Above 0.618 Fibonacci Level) βœ…
  • Near 50-Day Moving Average: Indicating Bullish Trend πŸ“Š

Technical Indicators:

  • EMA & MA: No crossover yet πŸ”„
  • MACD: Histogram at 0.48, MACD at 0.70, Signal at 0.22 (Positive Crossover) πŸ“ˆ
  • 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 β‚Ή391.00 🟒

Target Prices & Stop Loss:

  • Target 1: β‚Ή443.65 (0.786 Fibonacci Level) 🎯
  • Target 2: β‚Ή458.00 (Level 1 of February Series) 🎯
  • Stop Loss: If falls below β‚Ή424.50 (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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Maintain the status quo.
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.
Trade active:
target One achieved.

Elite Wealth Strategists

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