Indian Bank
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Indian Bank – Flag Breakout Setup from Sector Rotation Screening

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In the latest sector rotation review, PSU Banks moved into the Improving quadrant, showing early signs of leadership. Within this space, Indian Bank was shortlisted based on:

-- Alignment of 9 EMA & 21 EMA across daily and weekly timeframes

-- MACD trending positively

-- EFI (Elders Force Index) showing accumulation on higher timeframes


Technical Structure:
On the Daily and Weekly charts, Indian Bank is consolidating in a flag pattern after a strong uptrend. The EMAs are acting as dynamic support. On the Hourly chart, a rounding base is forming, indicating early recovery of momentum.

Trade Plan:

-- Breakout Entry: Above ₹656 with strong volume

-- Stop Loss: ₹640 (ATR-based)

-- Targets: ₹695 → ₹716 → ₹746


This setup aligns both with sector momentum and technical structure, offering a favorable risk–reward. Watch for sustained momentum on the breakout day to confirm entry.

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