Symmetric Triangle pattern formation on IndusInd Bank on EOD but MACD is bearish on bullish trend. So, MACD trend is not having strength.
Trade Long:
Buy above - 1502.50
Target 1 - 1520.50
Target 2 - 1536.50
Stop Loss - 1483.50
Trade Short:
Sell below - 1469.50
Target 1 - 1454.50
Target 2 - 1438.50
Stop Loss - 1483.50
Price is trading in a diagonal channel which just got broke to the downside on 15 min. TF. Now It' ll most likely looking to take the support at the 20 period EMA and the support at 1480 for resuming the Uptrend. also the breakout has failed partially.
Entry - 1510-1495
Target- 1480 - 1473
Stoploss - 1530
Targets :1317-1305 Sell range : Below 1395 Stoploss : 1450 Duration : 4-5 weeks
Rationale :
The attached daily timeframe chart of this Private Sector-Bank participant (Indusind Bank) is indicating a beginning of a sharp weakness in the stock price.
The gradual upmove of the last 5-6 months seems to have completed, as the stock price has started...
It is been observed on the daily chart that the price action forming a bearish head n shoulder pattern, indicating further weakness ahead.
Target 1: 1380
Target 2: 1340
Stoploss: 1420
Dear Readers,
A negative divergence has appeared in the stock of INDUSINDBK on its daily time bar chart. However, the stock on weekly and monthly chart has not shown any negative divergence nor does it look like to be for medium to long term period. Still, we may see a short term southward movement which may look like a sideways corrective movement to its medium...
We have seen that prices have formed XABCD pattern and prices have given a breakout from that pattern. Prices are had formed Rounding bottom and breakout without any correction in prices near its resistance. As prices haven't correct or consolidate prices gained further and took resistance near Fib Retracement of 1.618 and started corrected.
Prices are in...
We often wonder, why does a stock just stop dead and reverse at a price point... The harmonics which work in Nature, apply to markets too !
This is a perfect example of a Bullish Butterfly on IndusInd Bank H1 timeframe. Stock is already up 3% after tht.
Indusindbk looking bearish after post result.. stocj have resistance level 1172-1180 and 1200 also, so need to check above all levels then trade in stock my view sell indusindbk at 1170-1178 sl 1200 tgt 1150-1130
