Indusind bank is behaving no different than the other performers in banking. There is a morning star formation at the retest levels of the breakout that happened a few days ago.
I categorize this candlestick as a buy setup and this can give 10% in the coming days. SL should be at 1087 with a target of 1240-1250. This is a good RR setup of 3.5
Kindly note that...
Breakout candle on 1July with good volume and retest happening on 14 and 15July. Consecutive bearish candle at top with low volume, so I will not consider it as trend reversal yet.
Wait for one good solid bullish candle with volume to confirm the support retest and then should be a good setup for entering short/medium term long position.
I will not enter without...
Maruti Suzuki price at very important level where-in one can see multiple patterns/price action
1) Testing previous resistance
2) Approaching 200DMA
3) Approaching previous consolidation area
Price is in imp area to keep watch and add this to your watchlist
Everything is explained on chart.
1) High volume breakout of previous resistance area
2) Price retracing back to previous resistance and high volume area, taking support
3) Good risk reward ratio
4) Expecting price to go up from here
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LUPIN gave resistance zone breakout and re-tested it.
Consolidation between 1000-1010 level can initiate a Good upside movement
Good above 1010 Levels on the basis of candle close.
View negates below 988 levels
The classical breakout and retest pattern has been observed in the stock. The breakout was accompanied by high volumes and RSI in strength. Pattern would only be confirmed once it crosses 205 levels and one can definitely see for a long position for a short to mid term view. Strength in bank nifty in last few sessions could be good supporting factor. Wait for a...