INDUSDIND BANK H&S PATTERN BREAKDOWN
Updated
SUMMARY:-
*stock has created a weekly head and shoulder pattern
*breakdown below 770-780 demand zone suggest a move towards 500-400 levels
*yes it has come to those levels in the past
*i have been negative on the index in banknifty and some major banks
*please check my previous weekly and special post on index
*those following me in my channel have seen action on indusind bank
*it looks relatively weaker as compared to other banks
*private sector banking index has a head and shoulder pattern breakdown waiting
NOTE
*one can go short now and keep a stop above 820
*or wait for a weekly close below 770
*its weekly so it becomes positional trade
*trade can be on for few months as well
TRADE
INDUSIND BANK FUT
SHORT@775-780
STOP@820
TARGET@700-660-600
DISCLAIMER
*my views are not trade recommendation
*please consult your financial advisor
*do not over trade
*manage risk and manage risk appetite
*for live market update click on the link in signature box
*it my personal channel for live F&O TRADES
*stock has created a weekly head and shoulder pattern
*breakdown below 770-780 demand zone suggest a move towards 500-400 levels
*yes it has come to those levels in the past
*i have been negative on the index in banknifty and some major banks
*please check my previous weekly and special post on index
*those following me in my channel have seen action on indusind bank
*it looks relatively weaker as compared to other banks
*private sector banking index has a head and shoulder pattern breakdown waiting
NOTE
*one can go short now and keep a stop above 820
*or wait for a weekly close below 770
*its weekly so it becomes positional trade
*trade can be on for few months as well
TRADE
INDUSIND BANK FUT
SHORT@775-780
STOP@820
TARGET@700-660-600
DISCLAIMER
*my views are not trade recommendation
*please consult your financial advisor
*do not over trade
*manage risk and manage risk appetite
*for live market update click on the link in signature box
*it my personal channel for live F&O TRADES
Note
updatethose who have not entered wait for a move below 780
it is back above 800
Note
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*future calls
*option trading (buying)
*index trading (options and futures)
*index update and oi analysis
t.me/tradersmojo
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