Major Trendline over smaller timeframe is breaking down.
Taking a short trade here gives good R:R. (After 15 min candle close below 1557)
Price action looks like temp top established.
Targets are based on FIBS retracement.
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TREND ANALYSIS
Follow Chart Instruction.
Wait for Proper Entry.
Do not be Hurry for entry.
Do not book/Exit Early , wait for atleast 1st Target.
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Educational Chart Only.
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Indusind Bank has broken out of long term trend line support plus given close below important support of 1430. Volumes have been on higher side in selling. 1333 is the immediate support which needs to be hold on closing basis. If counter closes below 1333 ( keep 1% margin) on daily and weekly basis then it will confirm lower top lower bottom structure. In past...
One might want to buy Indusind bank on dips with SL of 1380 and targets of 1457/1478/1501. Confirmation received on the RSI. Attractive buy at these levels.
my stance is bullish but at levels so will like to buy at lower levels , already nifty and banknifty are oversold . a bounce and consolidation very llikely.
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