INDUSINDBK trade ideas
Indusind Bank Limited - Breakout Soon 📊 Script: INDUSINDBK (INDUSIND BANK LIMITED)
📊 Nifty50 Stock: YES
📊 Sectoral Index: NIFTY BANK / NIFTY500 / NIFTY
📊 Sector: Financial Services
📊 Industry: Banks / Private Sector Bank
Key highlights: 💡⚡
📈 Script is trading at upper band of Bollinger Bands (BB) and giving breakout of it.
📈 Crossover in MACD .
📈 Already Crossover in Double Moving Averages.
📈 Volume is increasing along with price.
📈 Script is moving towards resistance level which is around 1240 if script is breaking its resistance level it may go up.
📈 Current RSI is around 73.
📈 One can go for Swing Trade only above 1240.
BUY ONLY ABOVE 1240
⚠️ Important: Always maintain your Risk & Reward Ratio.
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Disclaimer: I am not SEBI Registered Advisor. My posts are purely for training and educational purposes.
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INDUSIND BANK ELLIOTT WAVE ANALYSISThis bank stock analysis is on weekly timeframe for long term value investment , the stock is showing great movement after the 2020 crash has recovered well.As shown in the chart the stock is in wave 3 of cycle degree on weekly timeframe and the wave 3 target is around 3500 in coming years.
Chart of the week. IndusInd Bank.This chart came first in my attention last year when it gave breakout around same price. I was extremally fascinated with its structure, however, due to bad news and then the Ukraine war market corrected and my SL was hit. However, this stock was always on my radar. Few weeks before it gave a breakout above 1000 with very big volume and again it caught my attention. This week, however, it has hit its first target but also gave a Cup and Handle breakout on its weekly charts. Now this stock can be recommended to everyone for investment. This is very reputed mid cap bank with very good fundamentals. I am still keeping my targets as last year. We will review this stock once it hits 2000.
CMP - 1227 (17/9/22)
T - 1600, 1800, 2000 W
SL - 1100 W
View - Medium term.