It is been observed on the hourly chart that the price action is trending in upward channel indicating a further move up to the previous resistance levels of 1112-1120.
Target: 1108
Stoploss: 1060
Risk Reward 1:1
indusind bank is taking support at 3/1 level of gann fan as well as fib. .5 level.
buy above 1081 - 1082( risky) above 1197
target - 1120.. keep a watch over fib. level and gann fan
Indusind Bank after breaking uptrend journey fell sharply and slid further downward. it has already touched the support and retraced almost 50% of fibo level. As bank nifty closed in green last week and shown signs of upside movement, Indusind bank is also trading at edge of falling wedge resistance and any time breakout upside may occurred and it will target 1145...
INDUSIND Bank after trading in long term up trend is seems to have gone in trend reversal, it struggling to breakout further upward but remained unable and retesting the resistance, there is a good opportunity in this stock to short at CMP with a target of around 1150.00,or if break this level next support is 1080.00 as fibo 38% extension, it has already retraced...
INDUSINDBK posted result overall good result but not soo good but stock at support so stock going to gapup near 10-15 points and if not able to hold stock 1235 then stock will again touch 1220.. or if stock gap down then stock will touch 1200-1180 also intraday... simple movement in stock first gap up then most probably closing in red.
Buyers looking aggressive and building up high pressure to breakout from previous resistance and as well as rectangular consolidation. It indicates bullishness.
