INDUSIND BANK -- INTRADAY SETUP -- 20/06/2022

INDUSIND BANK -- INTRADAY 15 MIN CHART SETUP

1. Rounded bottom chart seen whare next pattern seen from downtrend to uptrend

2. Double bottom formation seen at rounded bottom support level which is bullish indicators as per this chart pattern

3. selling minimize as seen histogram

4. last candle is doji candle, for buy level confirm we well place buy above body of doji candle 810 and stop loss will placed bellow double bottom support level

5 . intraday support at 800, intraday resistance at 820 -825

6 currentl daily RSI at extream Oversold level pull back is possible from current level

7. HULL moving avg given positive indication at current level .



BUY INDUSIND BANK above 810

TARGET 815-820-825

STOP LOSS 795


** THIS IDEA IS FOR EDUCATIONAL PURPOSE -- trade at own risk !


HAPPY TRADING !!

Comment:

EDUCATIONAL TIP -- do the observation while making double bottom both candle are hammer candle that means stock reluctant to go bellow that level where double bottom form.

Comment:

double bottom formation point around 797 level so stop loss place bellow that, at least for short term 797-800 can say as strong support level for stock !

Comment:

EDUCATIONAL TIP --- there are 2 level where we can buy stock 1 at strong support level like i mention 797-800 or or above the resistance candle 807-808, initial opening volume is max so more chances to cross resistance first, if fail to cross it stock comes at strong support where we can buy at max risk reward .!

Comment:

NIFTY intraday support 15250-15220
intraday resistance 15370-15400

Comment:

stop tiger .!