TradingView
RalphPB
Nov 18, 2021 11:26 AM

IN IIB Long

INDUSIND BANK LTDNSE

Description

Not recommending to act now

I tried to take side on buy given its position (support on a upward channel) but I am not conformable with the near-term resistance @~INR1,200-1,250 either -> I won't act now. Having said that, I do have two action recommendations.

(i) Only act when it hits ~INR651 where it is at the support of the downward channel.
(ii) Wait-and-see until Mar 2022: if the price is above ~INR1,144, we might actually consider buying more at that point.

Not sure how to assign probability to each case but I won't recommend the team to act now.
More