Story development: IndusInd Bank is consolidating from June 19 to September 1, making it a great opportunity for a positional trade on either the long or short side.
Why stay long?
1 - The stock has been in a range between 1348 and 1448 (100) points for about two and a half months.
2 - According to price activity and the MACD Indicator, the Banknifty seems bullish.
3. There is less resistance on the higher side until the stock breaks its resistance zone, which works out to be 1436.
If a stock's breakout attempt fails, you can immediately sell it short.
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Why stay long?
1 - The stock has been in a range between 1348 and 1448 (100) points for about two and a half months.
2 - According to price activity and the MACD Indicator, the Banknifty seems bullish.
3. There is less resistance on the higher side until the stock breaks its resistance zone, which works out to be 1436.
If a stock's breakout attempt fails, you can immediately sell it short.
Please subscribe to my channel.
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