Hello and welcome to this analysis
Among all large private banks, this one has been an underperformer since October 2021.
In the weekly time frame, Indusind Bank is completing the counter-trend leg of an Ichimoku Y wave.
Ichimoku Y Wave formations are formed in triangle/diagonal formations.
For further upside, it needs to start closing above 1100 on daily...
Bank nifty is near its swing high, it may take a correction or take out the supply zone with the short covering moves.
Here we analyze the PSU bank index, Private bank index, and ICICI bank to see what could be the scenario on Monday.
Today, we have ICICI bank's results which decide the Bank Nifty's run.
In the above image of the PSU bank index, we can see...
It is showing signs of completion of a sideways corrective near its Kumo support. If it holds 357 on hourly basis it could retest 400, sustaining above it could take it till 450.
