pratiktech

NIKE Pattern indicates correction in price

NSE:INDUSINDBK   INDUSIND BANK LTD
We have seen that prices have formed XABCD pattern and prices have given a breakout from that pattern. Prices are had formed Rounding bottom and breakout without any correction in prices near its resistance. As prices haven't correct or consolidate prices gained further and took resistance near Fib Retracement of 1.618 and started corrected.

Prices are in corrective mode and liekly to correct till Fib Retracement 1.0 which comes around 1240 or levels.

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