INDUSINDBK is trading at a crucial point. There is a chance of multi year trend reversal , if the weekly trendline is taken out. Then stock will start its uptrend.
The stock has been trading in a very tight range since few months. And now its coming out of the range.
The Trendline support has been pushing it up.
Buy- Above 1000
Target - 1428 and More
Indusind bank has recently taken resistance from its gap level and if it manages to again give closing above 1017.50 then we can activate a swing trade with targets upto 1061.75.
The stoploss after entry should be maintained at the 50 ema .
Hi guys, as you can see IndusInd bank has formed triangle pattern ... now if it breaks upper trend-line of the triangle with good volume ... it can give target of 1100+ ( Targets can be varied depends upon ..the blue trend line )
Aggressive entry : - Above 1035
Super Safe entry : Above 1052-1055
Target is 1100 + ( Depends upon how fast it will move...
The price broke out of the downtrend line with high volume and rallied to change the market structure. The RSI moved to 70+ region, and therefore it may cool down a bit before moving up again. This will give a retest of the previous high, 950-960 region. Long positions can be opened on this retest. The target which I am looking at is 1084.
You are always advised...