INDUSIND - UPTREND CONTINUES
Updated
Indus bank closed above 150 days moving average at a price 665.65 on 28Aug. Now the question is will the price move higher?. There wont be any surprise if this stock will continue uptrend upto 800 . Most of the banking sector have recovered around 60% to their pandemic levels, whereas Indus is still in its undervalued territory(Oversold).
Let's see what the Exponential Moving Averages (EMA) tells about the future trend. Like all moving average indicators, EMAs are much better suited for trending markets. When the market is in a strong and sustained uptrend, the EMA indicator line will also show an uptrend and vice-versa for a downtrend.
As we can clearly see on the daily chart that all the three EMA's 9/10 & 20 days are showing a clear uptrend.
Let's see what the Exponential Moving Averages (EMA) tells about the future trend. Like all moving average indicators, EMAs are much better suited for trending markets. When the market is in a strong and sustained uptrend, the EMA indicator line will also show an uptrend and vice-versa for a downtrend.
As we can clearly see on the daily chart that all the three EMA's 9/10 & 20 days are showing a clear uptrend.
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