Indusind Bank is consolidating in a range after a good rally forming a flag and pole pattern on the weekly charts.
The stock has formed a dragon fly doji and is trading in 5% range for last 40 days which predicts that there will be a nice break out or break down.
It has been trading around the 20 ema on the daily charts and in the last session given a 2% bullish...
IndusInd Bank moving averages are in a mood for positive crossover on monthly charts.
Monthly chart may have an golden crossover in coming few months
Target of 1500 - 1600.
Wait for at least 13-50 crossover to complete before entering the stock.
BUY - INDUSIND BANK LTD
CMP - Rs. 1248
Target - 1: Rs. 1580
Target - 2: Rs. 1870
Target - 3: Rs. 2150
Technicals - Cup and Handle Pattern BO
This is just a view by an expert analyst, please invest at your own risk.
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Comparing with N50, banknifty did close the gap-up opening. Looking at the opening minutes I felt BN had more inclination to fall into the trading range of the previous day, but the way in which NiftyIT was surging - BN would have changed the mind to play along.
BN also hit a new all time high of 44787.1 today, but the thrust to go up was not as convincing as...
INDUSIND BANK has broken out of its 5 year old downtrend line showing big buyers coming in the stock , retest of support is also done and the stock has formed a good inside bar candle in monthly time frame . Any breakout above the inside bar candle range will be a confirmation of upcoming rally in the stock , ie levels of 1180 , one can go long above this range if...
Chart is self explanatory.
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
Indus Bank is at a good level. We can start accumulating the stock from here. The stock is at a discounted price.
The fundamentals are good for the bank.
The market has shown good strength today. Tomorrow can be a little jittery but stay strong.
the reason why i am recommending you guys this stock is because when last time it reached this level i went for a long position that gave me a good 1:4 R:R target so i am hoping it"ll repeat it again or we can short it below the support level
Indusind Bank has given a break out of the consolidation and crossed the 20 ema on the daily time frame.
The stock has been in consolidation from october and gave a nice break out in the end of november.
The stock can be traded once there is retest of the level and the stock can give nice up side targets.
3 points confirmation.
1. Break out of the...