NeeteshJain
Short

INDUSIND BANK - BEARISH HEAD N SHOULDER PATTERN

BSE:INDUSINDBK   INDUSIND BANK LTD
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.

Comments

Hi is the stop loss for this still 1435?
+1 Reply
Thanks.
+1 Reply
sir
good morning.
i am unable to attend courses short term fee classes due financial constrains.
even though limited capital i want to be sucess in trading.
could you kindly help me my doubts in trading
i want to know how you are identifying demand zone what is the creteria
i am from mumbai my name is ramanujam retired

tks
Reply
Hi Neetesh, what should be the entry point to short
Reply
NeeteshJain santoshvaraganti
@santoshvaraganti, I shall update you on closing basis. Currently if you would like to short then you can do it around 1425-30 levels with stoploss at 1445. Regards
Reply
santoshvaraganti NeeteshJain
@NeeteshJain, Thanks for quick response.
Reply
santoshvaraganti santoshvaraganti
@NeeteshJain, Is it a morning start todays candle? if yes, can we consider this is the start of downfall?
Reply
santoshvaraganti santoshvaraganti
Morning star*
+1 Reply
Hi the stock almost touched 1st target yesterday. Is there further downside expected? Please advice thanks
Reply
NeeteshJain abhinavk31
@abhinavk31, Yes, it shall go down but firstly can go up to H&S resistance and then fall again. Regards
Reply
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