Sagar_Rajput
Long

INDUSIND BANK Descending Triangle

NSE:INDUSINDBK   INDUSIND BANK LTD
Technical Overview of INDUSINDBK: In the below chart, we can see the stock is trading near very crucial support i.e. 1350. On 16th April 2019, the stock has given confirmation of Double Top and from next day has given sharp fall till 1350. From support levels given bounce up to 1670 and made Lower High. Like this stock has started to trade in a Descending Triangle , and yesterday again took exact support from the same level. As per our view, we can buy INDUSINDBK here with the stop-loss of 1345 on a closing basis on the daily chart . The first target is 1500 and if a stock will give break out to Trend Line then it will show 1550-1600-1650.
Comment: Bullish Piercing pattern created on Daily chart and that is near Triangle support.
Comment: Taking the support of Triangle base
Comment: Ready to break Triangle
Breakdown happened from critical support.
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Can't sl be placed below the double bottom
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Sagar_Rajput ashutoshsinghy2k
@ashutoshsinghy2k, if close below the triple bottom then exit the long position
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