The market is in Consolidation mode... Took a reaction from 52 Week's High.
Very important Trendline, If it breaks with a Big candle then we will witness a huge fall.
OI & Volume are to have to be considered.
NSE:INDUSINDBK
I am posting this on request from a follower on Twitter.
Observations:
1) On 1 Day time frame, It failed to manage above 1200 level and then it is facing profit booking.
A bit negative thing is that it closed below 21DMA which is placed as 1164.97 level.
So we can consider that 1165-1170 will work as resistance zone.
Please refer below...
as we can see the price resistance at the level of 868-870 which is unable to break by price so we looking the oppurtunity for the short.
Bearish view- short around 864 for the level of 850-848 with the sl of 870
![INDUSINDBK: Simple Trade Setup | INDUSINDBK | 27-10-2021 [INTRADAY]](https://s3.tradingview.com/i/itXjy8XE_mid.png "Simple Trade Setup | INDUSINDBK | 27-10-2021 [INTRADAY]")
