Disclaimer :- This is not any buy or sell recommendation. This is just my personal view on this counter.
There is a breakout generated in INDUSIND BANK on daily chart. levels as below.
1st Target :- 1100
2nd Target :- 1190
3rd Target :- 1300
Stoploss :- 970 on closing basis.
IndusInd bank is forming a bullish inverted head and shoulder pattern in 15 minutes chart. The neck level is at 940 though the entry as per the pattern too. What are your thoughts..? Is it gonna break the pattern and hit the CLSA revised target of 1150?
The predicted buy & sell zones plotted are an approximation and for accurate levels use the indicator (tradershedge) which updates the levels on real time and also triggers an alert.
You can make entry decision once you get a confirmation at the respective marked zones and opt for the next successive zones as expected targets in the direction of the trend.
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
This can be a beginning of downtrend in Indusind Bank. As the stock price has broken the support level formed during the consolidation levels. If one is already holding this stock. Time to book profits. Put Option can be bought.
I hope you can now see how Indusindbk represents an excellent low risk profit entry setup allowing you to trade in the market.Take positions so that the risk/reward is in your favor.
Knowing why, where & when a strong reversal signal is being generated will be the only way to capitalize on your technical analysis .
Disclaimer: It should not be...