INDUSIND BANK LTD.

Short

INDUSIND BANK - BEARISH HEAD N SHOULDER PATTERN

Updated

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

Note

Stoploss changed to 1435.

Note

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

Trade closed: stop reached

Note

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

Related publications

Educational 08: Head N Shoulder & Elliott Waves Relationship

GRASIM - HEAD N SHOULDER

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