NSE:INDUSINDBK Head & shoulder pattern formed on daily chart. Support levels have been indicated.
Disclaimer: Consult your financial advisor before investing.
Symmetric Triangle pattern formation on IndusInd Bank on EOD but MACD is bearish on bullish trend. So, MACD trend is not having strength.
Trade Long:
Buy above - 1502.50
Target 1 - 1520.50
Target 2 - 1536.50
Stop Loss - 1483.50
Trade Short:
Sell below - 1469.50
Target 1 - 1454.50
Target 2 - 1438.50
Stop Loss - 1483.50
Price is trading in a diagonal channel which just got broke to the downside on 15 min. TF. Now It' ll most likely looking to take the support at the 20 period EMA and the support at 1480 for resuming the Uptrend. also the breakout has failed partially.
Entry - 1510-1495
Target- 1480 - 1473
Stoploss - 1530
It is been observed on the hourly chart that the price action is trending in upward channel indicating a further move up to the previous resistance levels of 1112-1120.
Target: 1108
Stoploss: 1060
Risk Reward 1:1
Buyers looking aggressive and building up high pressure to breakout from previous resistance and as well as rectangular consolidation. It indicates bullishness.
