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.
i t is very ineresting to note that inside bars are formed on charts of bank nifty on weekly chart and indusind bank and yes bank. As per vanati,s prediction, bank nifty is ready to take off. please i need all of your valuable comments
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
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
