IDUSB trade ideas
indusindNote:
1. Views are personal and for educational purposes only. Recheck and take the trade as per your RR.
2. Always remember SL is your lifeline, not the big target...
3.Follow us for more patterns and like, share so that we feel it is helpful to many and share more patterns...
3. Views given here is not a tip rather it is for educational purpose... Aftermarket opens, the condition might change so learn to handle different conditions...
4. To learn more about patterns, Psychology behind the trade, and price action trading... contact us... Thanks...
Keep an eye ladies and gentlemen. Cheers and Happy Trading.
indus ind bank ready for breakout indus ind bank ready for breakout
Breakdown may see down side to support levels 903 which looks less probable
A breakout at 1027 ( to be safe ) looks good for targets of 1037 and 1053 as per trend line
NSE:INDUSINDBK
Note : Charts only for learning .
Please trade with caution since it can go both ways .
USE MACD and SQZMOM indicators to take entry
This is how the Setup Works!The intraday setup was provided on 9/2/2021
The stock behaved exactly according to the pre- mentioned levels on the chart.
-Opened exactly at the Resistance @ 1035, and started falling from there.
-Then took a support @ 1020; and later break it as well.
-Finally the stock created a double bottom pattern @ the strongest support of 1000 and retested its prior support of 1020.
This setup can also be used for tomorrow according to the Market Structure (The setup is attached to this post)
Trading Setup for IndusInd BankIndusInd Bank can be traded according to the setup.
The stock has a very strong support @ 1000 as:
- It is a round level
- It is a major supply zone for the stock
- It is supported by 50EMA and 200EMA in 1hr and 15mins timeframe resp.
But if it breaks its recent support of 1020, one can go short in it (in half quantity) for a target just above 1000, as it is forming a Descending Triangle pattern.
And, incase BankNifty is Bullish tomorrow and the stock break its Descending Resistance, one can go long on it for a Tgt1- 1050 and Tgt2- 1075