Long position opportunity in INDUSINDBK

Double Bottom pattern has been formed in INDUSINDBK and hence we can take a long position with the target and stop loss as indicated in the chart

Comment:

With the price keeps dropping we have two possible outcomes

1 . We can get a lower entry price and thereby increasing our Risk to Reward ratio
:-) Yay !
Or
2. Price would be low so much so that we will consider to discard this trade

let's see in the coming days as this is daily time frame .. lets wait and see

Comment:

I have found a double bottom formation in the 1hr chart for INDUSINDBK so if the price close below 1468 (in hourly or daily chart ) then it might send a indication that market direction has been shifted ... lets see tomorrow ....

Comment:

General rule for double bottom formation is that should be formed with prior downtrend and in 1hr chart i cannot be exactly categorise it as downtrend , so the previous comment shall be taken with a grain of salt ......

Trade active:

Any trade shall be taken under own risk , all articles here are for discussion purpose only

A conservative entry point is active now

Trade closed: stop reached:

This trade should never be activated , th neck line breaking should always be entry pointb