INDUSIND BANK - BEARISH HEAD N SHOULDER PATTERN

It is been observed on the daily chart that the price action forming a bearish head n shoulder pattern, indicating further weakness ahead.

Target 1: 1380

Target 2: 1340

Stoploss: 1420

Trade active

Trade closed: target reached:

Yesterday, Target 1 reached successfully. Now, it shall further come up to the Head and Shoulder resistance and then fall again due to selling pressure.

Trade active

Comment:

Stoploss changed to 1435.

Comment:

Any rise in this one is a sell until it closes above 1550 on daily basis.

Trade closed: stop reached

Comment:

It is still a SHORT until it crosses over the Head and Shoulder pattern.