GOOD BUYING SEEN IN INDUSIND BANK TODAY. RSI BULLISH. THE TREND LINE SHOWN IS THE RESISTANCE LINE IN THE WEEKLY TIME FRAME. IF IT OPENS SOMEWHERE NEAR 1020 THE MOMENTUM CAN CONTINUE YOU CAN LOOK FOR BUYING OPPORTUNITIES. THE FIRST TARGET WILL BE 1085. ONCE IT CROSSES 1100 LEVELS WITH MOMENTUM 1195 LEVELS CAN BE ACHIEVED EASILY. REWARD TO RISK RATIO ALSO...
Indusindbk is arriving to its FTR Supply Zone and the zone is fresh, so look for shorting opportunity in that zone when price arrive.
The entry level is 994.30 with a Stop at 997. If it works then minimum 1:3 RR will produce.
ON BULLISH SIDE IF BREAKS AND SUSTAINS ABOVE 1000. SHORTTERM TARGET OF 1000 IF BREAKS AND SUSTAINS ABOVE 970.GOOD FOR LONG TERM INVESTORS AS IT HA BROKEN THE TRENDLINE AND BOUNCED BACK FROM DEMAND ZONE .LONG TERM TARGET OF 1100 IF BREAKS AND SUSTAINS 1000.GOOD BUY ON RETRACE.LET ME KNOW IN THE COMMENT BOX HOW GOOD IS THE ANALYSIS AND DO FOLLOW IF YOU LIKE ONE.
950 is a strong resistance level.
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On Friday, IndusInd Bank share tried two three to break this level but failed.
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So maybe on Monday, it can break the levels 979 is our first Target.
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On Friday company announced a very good Quarter Results.
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So maybe there is 1% chances that you can see the profit booking .
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But trust me if it's goes down you can accumulate...
Stock has formed rounding bottom on higher TFs. Looks good to come and fill the gap above
Buy above 890 for target of 917
P.S. Stock might take 1-2 days to trigger, wait for right levels !!
IndusInd bank is good to accumulate between 800-900 with 700 SL for 1200 target in coming months. Safe traders wait for Break of downtrend line shown, with good volume will confirm reversal and likely the test again the downtrend line for support and also uptrend line for support, That highlighted area will be good price to add for long term. Around 850....
Price rejecting from a trend line consecutively and at the bottom another small trend line in combination with the above making this looks like a triangle pattern.
One can wait for the break and enter the market.
Stock has been trading in parallel channel since many months. It has touched lower TL today and bounced. It can continue the bounce in coming days and start another rally.
However if it breaks the Trendline then good to short the stock
Can consider for Intraday as well.
