AN ASCENDING TRIANGLE PATTERN CAN BE SEEN ON DAILY TIMEFRAME.
THERE IS ALSO SUPPORT ON FIBO-RETRACEMENT.
THERE CAN BE A BUYING OPPORTUNITY.
NOTE - THIS IS JUST FOR EDUCATIONAL PURPOSE. NSE:INDUSINDBK
IF ANY SUGGESTIONS PLEASE LET ME KNOW IN THE COMMENT BOX.
Indusind Bank is trying to make Inverse Head and Shoulder patter, Stock is trading above all EMA (20,50,100,200).
once pattern is broken, Stock has potential to reach 700+ levels.
Support is seen at 595 level.
Indusind bank is at consolidation since 6th October. The context to note here is that banknifty is yet to catch up with nifty. 12000 level is a psychological level and if nifty holds 19000 to12000 levels then banknifty will soon catch up. Thereby Indusind will touch the sky.
For educational purpose.
Indusind Bank is making Ascending chart pattern...Buy or sell after Breakout lines
Buy if it crosses above 612.
1st Target at resistance 1 - 622
2nd Target at resistance 2 - 630
Short if it breaks below 605
1st Target at support 1 - 600.5
2nd Target at support 2 - 595
*This is my analysis just for the educational purpose.