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Published on 13/01/2021 12:31:14 PM | Source: HDFC Securities Ltd

Momentum Pick - Buy IndusInd Bank Ltd For Target Rs. 995 - HDFC Securities

Posted in Broking Firm Views - Short Term Report| #IndusInd Bank Ltd #Banking Sector #HDFC Securities #Trading Report

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Momentum Pick - Buy IndusInd Bank Ltd For Target Rs. 995HDFC Securities

Observations:

After showing a minor declines/sideways consolidation, the stock price has shifted into an upside bounce- weekly chart.

Today’s upmove could be considered as an upside breakout of the narrow range movement/immediate resistance.

The short term trend seems to have turned positive.

We observe a formation of positive candlestick pattern as per intraday/daily/weekly timeframe chart.

Volume has started to rise along with the upmove in the stock price.

The intraday/daily RSI is showing positive indication.

The overall bullish chart pattern of the stock price indicate long trading opportunity. One may look to buy as per the levels mentioned above.

Buy IndusInd Bank Ltd @ Buy between CMP & 900 CMP 933.75 TGT 995 SL 890

 

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