Indus Bank - V - Shape recovery Incoming, 1 Sep 20.In the morning of 31 Aug, the Global cues were positive, So the geological development looks like to be the major reason that has triggered the negative impulse in the market. The beers took advantage of the situation and this action has also triggered Panic Selling in the market. Profit Booking due to month end added fuel to the situation.
I am still positive that this may gap up at the opening at 641. If this does not open gap up , In the first 1 Hr people will start booking their profit due to the situation not clear plus bears will also be active. At around 11;0 0 - 1:30 market may move towards to a "V" shape recovery due to the fact that despite of the situation on 31 Aug, there was buying pressure towards the end of the day.
Bullish Hammer (H) is noticed on the last 1Hr chart of trading. Still bullish for the targets mentioned in my earlier post of 29 Aug. Hold tight !
Disclaimer:
Professional Day/ Short-Term Swing Trader. Ideas and entities are opinions. Trade at YOUR OWN RISK. I am not your financial advisors. Risk it for the biscuit.
INDUSINDBK
INDUSIND BANKSimple chart based on price action. A parallel channel within another channel.
Breakout from the inside channel.
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IndusInd bank hello!! IndusInd bank is a good bank even fundamentally so it has great chances to go up final targets for long term are very big like 1000+ but yeah for swing trading if it will sustain over 527 then 540 . and if breakdown then around 506 can be seen(less chances) but yeah market is supreme so we have to analyze for both sides.
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#INDUSINDBK is moving under rectangle box and near to upper breakout. Today stock gain Volume more then 20VMA. Stock has support over 20EMA but bullish in Daily candle while in Weekly and Monthly period it is still bearish hence recommanded for treading only.
Showing Bullish in all indicator:
Increase in Relative strength - Benchmark Index
CCI above +100
ROC is trending UP
MACD crossed above signal line
Stoch is treading UP
RSI is trending UP
Aggresive New Long
Stock outperforming from Benchmark and sectrol index on 1 week and 3 month both
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Support : 510 and 484
Breakdown : 522
CMP : 526
Breakout : 536
Short Target : 549
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(Disclaimer: This is only for educational purpose.)
INDUSINDBK | NSE | ANALYSISHey guys!
IndusIndBk has broken out of its major resistance level and has flipped it to support.
It has consolidated for a while above the support, which is healthy. And, it's closing in on the D-Day.
MACD is converging bullish adding to the bias.
Stoch RSI has bottomed out and is ready for a reversal.
Next possible resistances are way above 600 rupees, which is the 200MA on the 4H. That's a 30% easy target in the coming months.
Above are my reasons to enter the trade.
Thank you!
INDUSBANK - Weak Share - Triangle Pattern Breakout - False hope Pattern breakout is good, but logically the share is weak with Quater results coming out, first things first - the share lost almost 75% of its value means 1200 point lost and that will be a dent on profits.
Lets see.. Still bearish as per logic and short bullish as per pattern breakout.
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INDUSIND BANK | Sell Opportunity
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I'm seeing a sell opportunity here. Use the pullback to get in.
Reason:
- The price is now trading near a resistance area.
- Weaker Supports
- BankNifty is weak
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.