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Watch-this-level

IndusInd bank | Resistance breakout | Uptrend |Wait for breakoutThe stock is continuously riding the uptrend in a parallel channel in daily as well as weekly time frame. Currently the price has touched its multiple time resistance. And now it's into watchlist whether it will form a consolidation phase and then breakout or directly breakout. Entry - Above 975+ with above average volume. Target are explained in the chart itself. Analysis done is for educational purpose only. And it's not any sort of recommendation
NSE:INDUSINDBKLong
by ankitstockmarket7
Unbelievable run - Take the profit.Ripple is at an all time high. The orange trendline at the bottom has provided tremendous support in the past. If it falls right now, it may find support at this line. RSI is terribly over-bought. I do not believe it can sustain anything further and I see a dip at the moment. There are couple of ways this trade can pan out - A. If it falls it may find support @ the trendline around $1.87 which is the 1.618 fib level. If it falls harder it could find some support at fib level 1 ($1.23). The selling volumes are pretty low though. B. It may get into a consolidation phase for a while. Look at the encircled portions in the chart. Everytime it hit an all time high it consolidated along that line sideways before making the next move. In this case it may go along the fib level 2 line and find support at the orange trend line before making the next move. C. If it manages to surpass the Orange trend line on top, it may reach $2.7 (fib level 2.414). This is less likely at the moment in my opinion. What the next move would be is difficult to predict. We'll have to wait an watch. However, I have a feeling (this is purely my assumption based on the past performance of the ticker) that it'd follow option B above. Note: if you went in early then now is a great time to seek some portions of your profit. :) Please feel free to revert with your feedback. Thank you!
BITSTAMP:XRPUSD
by rony.kris
3