IndusInd has given a breakout in the previous session. I expect the momentum to continue towards the upside. My bias on Banknifty
is currently bullish
, due to the structure which HDFC Bank
is forming, and as it is a heavy weight in Banknifty
, I expect a breakout in HDFC Bank
would be followed by a bullish
move in Banknifty
. And as IndusInd Bank is a part of Banknifty
, it may benefit from it. AGR
news will also affect IndusInd Bank, as if the news is in favour of Vodafone-Idea, then IndusInd Bank may also move, as it is a lender to the telecom company. This may fuel the rally towards my target. AGR
verdict is on Monday, which is tomorrow, so will have to see how it turns out.
This is an educational post and all the opinions provided above and on charts are simply speculation. Nothing is 100% in stock market.
Consult your financial advisor before taking trades
I do not recommend taking trades according to my analysis as you may incur loss, for which I am not responsible.