Time to sell INDUSINDBK? Trade idea with excellent risk reward!

There is a bearish divergence in it's hourly chart and since it's breakdown on 30th Sept, 2019 (with a previous swing high of 1555), This stock had hit a low of 1191 and had retracted excess of 50% since then. It is strongly Bearish according to the Ichimoku cloud system in both the hourly and weekly charts and it is very likely that this downward trend with continue and according to fibonacci extension it will head to 1055 if you are conservative you could book your profits here and if you are aggressive you can wait till it heads towards 980-970 range. There was a gap down opening on 14th November, 2019 and it's unlikely that the trend is strong if it fills up the gap hence it's safe to place a Stop Loss slightly above the gap at 1425 with a buffer.

交易結束：達到停損點