INDUSINDBK : Stuck between levels INDUSINDBK:
Daily TF : stuck between daily support resistance. good opportunity to buy near support & sell near resistance with small SL. you can have good R:R.
Hourly : in hourly time frame, its rejected from today's High and now coming down. still its showing HH & HL hence last resistance marked in RED is very important if its need to sustain. If it broke hourly support, it can go till Daily support and could be buying opportunity.
Always follow candle stick pattern near support & resistance.
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My studies are Educational purpose only
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INDUSINDBK trade ideas
Indusinbk
NSE:INDUSINDBK
WAIT FOR PROPER CLOSE ABOVE THE TRENDLINE.
Looks Like a Multiple Pattern, if breaks out , we would have good momentum .
Note :
1.One Can Go long with a Strict SL below the Trendline or Swing Low of Daily Candle.
2. Close, should be good and Clean.
3. R:R ratio should be 1 :2 minimum
4. Plan as per your RISK appetite
Disclaimer : You are responsible for your Profits and loss, Shared for Educational purpose!
INDUSINDIndusind is trading inside range of 1117-1175 from past one month & twice in past one month it reversed from 1168-1173 zone.
Although it looks like it ll break past upper end of the zone this time, but it would be better to trade only above 1175.
If it breaks past 1175 then its a buy with mentioned stoploss & targets.