Hello and welcome to this analysis Among all large private banks, this one has been an underperformer since October 2021. In the weekly time frame, Indusind Bank is completing the counter-trend leg of an Ichimoku Y wave. Ichimoku Y Wave formations are formed in triangle/diagonal formations. For further upside, it needs to start closing above 1100 on daily...
Expecting 110.793 by 25/03/2021 on a 12 bar TaitoSuchi time cycle/wave 3 on USDJPY. Though Kijunsen is flat.
After giving a gap down its daily chart as per Ichimoku is suggesting a retest of 1675 which also coincides with a weekly support. Large Pvt Banks appear to be seeing profit booking since Friday and Kotak Bank in particular looks weak. View negates above 1870
It continues to be on a bullish path and now after a minor pullback is trading above Weekly resistance. It could test 250 and then 275. Short term view gets negated below 227