IndusInd Bank – In Consolidation mode?
IndusInd bank
INDUSINDBK
has been struggling at 1900 levels for past few days and looks like Bulls seem to be exhausted, unable to get it past this crucial resistance.
With Nifty Private Bank Index also closing at a crucial level today, a big movement from here seems inevitable.
I can see a Negative Divergence on Daily chart with price consolidating near the 1900 levels.
Took short position with a small stop loss around 1910 and target around 1800 levels.
Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice.
Please consult your Financial Adviser for any investments.
INDUSINDBK
has been struggling at 1900 levels for past few days and looks like Bulls seem to be exhausted, unable to get it past this crucial resistance. With Nifty Private Bank Index also closing at a crucial level today, a big movement from here seems inevitable.
I can see a Negative Divergence on Daily chart with price consolidating near the 1900 levels.
Took short position with a small stop loss around 1910 and target around 1800 levels.
Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice.
Please consult your Financial Adviser for any investments.
Also explains the importance of waiting for the close of a candle before triggering your Stop Loss.