Buy Indusind Bank Ltd For Target Rs.990 by Jainam Share Consultants
Indusind Bank Ltd
Buy Indusind Bank Ltd CMP 894 Buy Price 894 Target 990 Stop loss 834 Holding Periond 30 Days
* INDUSINDBK has formed a Cup and Handle pattern on the daily chart indicating a potential bullish continuation pattern. The stock has successfully broken above the handle resistance, confirming a strengthening overall bullish price structure.
* Price is trading above the 20 EMA and 50 EMA, indicating short-to medium-term bullish momentum. The 200 EMA is above price, acting as a major long-term resistance zone. A bullish EMA crossover is visible supporting trend reversal strength.
* Momentum indicators further support the positive outlook. The RSI is trading above 60, reflecting strong buying momentum and indicating the sustainability of the breakout.
* Based on the current price action, we expect the stock to move higher toward the Rs.980-Rs.990 levels. A stop loss can be maintained at 834 to mange risk effectively
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SEBI Registration No.: INZ000198735, Research Analyst: INH000006448, PMS: INP000006785
