krishnaraja86
Long

DESCENDING TRIANGLE PATTERN

NSE:INDUSINDBK   INDUSIND BANK LTD
BUY ABOVE 1454 STOP 1440 THE CHART FORMS A DESCENDING TRIANGLE PATTERN ON A BEAR TREND ACCOMPANIED WITH DESCENDING VOLUMES. THE BREAK OUT WOULD BE MOST POSSIBLE ON THE UPSIDE. NEVER SELL THE STOCK AS FAR AS THE NIFTY IS BELOW 10800 AS THE STOCK MIGHT BOUNCE BACK HEAVILY. IF BOTH PARAMETERS OF BELOW 1350 IN THE STOCK AND 10750 IN THE NIFTY IS DONE.. THE SELLING WOULD START AND POSSIBLE TARGET WOULD BE 1170 ON THE DOWNSIDE.. AT PRESENT BE BULLISH ON THE STOCK FOR AN UPSIDE TARGET OF 1550
Comment: buy around 1380 target 1440 has achieved.. today's level to watch buy around 1415-1425.. might go upto 1403-1392.. buy around 1410 stop loss 1392 for a target of 1462
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