Indian Bank Stock Analysis: Spordiac Buy Signal on short term

📈 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 📊
  
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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 🟢
  
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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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Comment:

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.