indusind support become resistance in equal timeframe50 days took to break red support
that support(red) became resistance (green)
50days to break that (green) resistance
INDUSINDBK trade ideas
IS IT TIME TO ENTER FRESH INTO INDUSIND BANKFrom a massive fall in February 2020 from 1340 to a low of 235 it has gradually moved up in the process making a Triangle Pattern and has been faithfully following the Support Trend line and has not troubled the Resistance Trend line much until now.It did make an unsuccessful attempt to break the resistance Trend line in Feb 2021 and immediately tested the Support Trend line.
This past week it has indeed broken the Upper Resistance Trend line but volumes are quite low with long upper wicks.There is another Very Long Term Resistance Trend line way back from 2018 around 1110-1120. This may act as a very strong resistance. So if it breaks above this range then we can go long.
So it would be prudent to wait till it breaks this Trend line for the following targets.
T1-1345
T2-1585
My View ON INDUSIND BANKIndusind bank should breakout above 1060-1061.Looking target 1080-1085-1100++.We will use TSL from 1045.
Indusind Bank - Keep a watch. On closing basis above Rs. 1051 Looking at RSI, MACD showing good positive momentum and stock has undergone consolidation, looks good for a short term / swing trade only if it closes above Rs. 1051 (Not intraday high). Moving average set up as well looking good. Please exercise your own wisdom / consult financial advisor before you make investment decision. This is just a view provided.
OUTLOOK ON INDUSINDStock- Indusind bank
Cmp - 1039
Resistance- (1060-1070)
#fundatechnoinvest
FUNDAMENTEL HIGHLIGHTS-
-Net Income of the bank increased 11.52% QoQ & 193.82% YoY
-PE Ratio is comparable to Industry leaders.
PB ratio is much less than other its peers, which makes it attractive for investment.
-CASA % decreased to 40.37 from 43.14, which is comparable to other banks as well.
Things to worry about🛑-
-Gross NPA & Net NPA % increased QoQ
-Net profit margin down to 9.78% from 15.34
Long term trend change ahead?
Share your views in comment.
@sumitsanghavi09
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IndusInd bank- Beautiful structure....No stopping this bank above 1080....stock to watch out for next few months.
IndusInd Bank Up-move PotentialThe stock has been trailing around 1000-1030 levels for the past two months and has come out of a Long Term Resistance level in the past week. Keep in watch for potential Up-move.
Indusind BankIndusind bank in weekly chart, we can good momentum in if breaks the above resistance with good volumes
Indusind Bank-Ripe for upmoveIndusind bank forming cup and handle in weekly time frame. Any close above 1130 i.e. 200 EMA and 0.5 Fibonnaci levels on weekly chart would open doors for 2000+ levels.
INDUSIND BANK 1200+ SOONINDUSIND BANK SUPER BULLISH according to Elliot wave count can move very fast
Indusind BANK: Descending broadening wedge and cup and handleIndusind bank is expected to take breakout from the Descending broadening wedge and cup and handle pattern. The asset has a strong buy opportunity.
IndusInd Bank - Traingle breakoutHi 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
SL: 1020
Super Safe entry : Above 1052-1055
Target is 1100 + ( Depends upon how fast it will move after breakout )
- Once it breakout above blue line as shown in chart ... it can move upto 1200
So please wait for successful breakout, dont jump in any trade.
Things to remember :-
1) Always wait for the confirmation , don't directly jump into any trade.
2) For this stock ... Breakout level is above 1034 --- So aggressive players can take entry above 1034, and Super Safe people can take entry around 1052
3) Conditions for breakout is a big green candle with good volume.
4) After a successful breakout, there is 90% chance it will come back to retest the support, which was once resistance. So if you are a safe player just wait for it to re-test , once it re-test successfully or bounce back from the support, then you can take entry above the recent high.
5) Always keep trailing stop loss. Which you can decide for eg : Tomorrow's SL will be the low of Today's candle ... same way you can trail stop loss.
Note : I am still a learner, Please let me know if i missed something
Disclaimer : This is just for Education purpose only.
INDUSIND BANK good long candidateIndusind bank spot cmp 1040
Cup and handle pattern breakout possible
and elliot wave counts indicate final wave of impulse phase on verge to unfold,,,
Good long candidate...
