INDUSIND BANK SUPPORT RESISTANCE for 27/04/2020 NSE:INDUSINDBK will declare its Q4 results on 27/04/2020 which is most likely to be negative, so these are all the important support resistance zones to watch out for action on 27/04/2020.
since the important support trendline is broken probability of short trade is higher.
the chart is quite gibberish so I would recommend to note down all the levels and carefully the trendlines.
Indusindbank
INDUSIND Neutral Nov Expiry OptionsLong term support at 1290, bounced from there
Still in the descending channel
Right now at the top of the descending channel
Can breach right through it or get rejected
If it breaches, it will retest this trend line and move upwards
If it rejects then move downward
IndusInd Bank - Short when it goes below 1320IndusInd Bank ( NSE:INDUSINDBK ) looks very weak on chart and have broken multi-month support today.
Tomorrow if stock goes below 1320 it can fall further.
Reasons for Trade:
Stock has broken Multi-month Support
Current Trend is bearish
Trade Setup:
Short / SELL when price goes below 1320