INDUSINDBANK

This stock is forming head and shoulder pattern on weekly time frame, that can be a big bearish ahead. Right now we are at mid. Bollinger on daily chart, at 20DMA once its break and close below 20DMA then that would be a trigger point, Overall wave structure is also suggesting corrective structure ahead, after completion of impulse waves, we are in corrective phase as a zig-zag pattern as a A-B-C, possibly wave A and B are completed and right now we are in wave C of zig-zag, which can subdivide into 5 waves, if wave A and C are going to be equal then we can see 670 to 675, and on upper side nearest swing high and RK's stop line of weekly and daily would be a hurdles to watch out for, which are pegged at 1029, 950 and 925.

Overall wave structure on weekly chart

Reverse Divergence

Corrective wave structure

RK's Momentum sell signal activated

Mass psychological cloud and rk's stop line both in sell mode

Price at 20DMA, ready to break

Head and shoulder chart pattern in weekly, yet neckline to break

Macd in weekly already in negative mode

Macd in daily is down tick and converging towards south, that too below zero line

Rsi in weekly down tick below 50

Rsi in daily down tick below 50

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Disclaimer.
I am not sebi registered analyst.
My studies are for educational purpose only.
Please Consult your financial advisor before trading or investing.
I am not responsible for any kinds of your profits and your losses.