Indus Bank - V - Shape recovery Incoming, 1 Sep 20.
In the morning of 31 Aug, the Global cues were positive, So the geological development looks like to be the major reason that has triggered the negative impulse in the market. The beers took advantage of the situation and this action has also triggered Panic Selling in the market. Profit Booking due to month end added fuel to the situation.
I am still positive that this may gap up at the opening at 641. If this does not open gap up , In the first 1 Hr people will start booking their profit due to the situation not clear plus bears will also be active. At around 11;0 0 - 1:30 market may move towards to a "V" shape recovery due to the fact that despite of the situation on 31 Aug, there was buying pressure towards the end of the day.
Bullish Hammer (H) is noticed on the last 1Hr chart of trading. Still bullish for the targets mentioned in my earlier post of 29 Aug. Hold tight !
Disclaimer:
Professional Day/ Short-Term Swing Trader. Ideas and entities are opinions. Trade at YOUR OWN RISK. I am not your financial advisors. Risk it for the biscuit.
I am still positive that this may gap up at the opening at 641. If this does not open gap up , In the first 1 Hr people will start booking their profit due to the situation not clear plus bears will also be active. At around 11;0 0 - 1:30 market may move towards to a "V" shape recovery due to the fact that despite of the situation on 31 Aug, there was buying pressure towards the end of the day.
Bullish Hammer (H) is noticed on the last 1Hr chart of trading. Still bullish for the targets mentioned in my earlier post of 29 Aug. Hold tight !
Disclaimer:
Professional Day/ Short-Term Swing Trader. Ideas and entities are opinions. Trade at YOUR OWN RISK. I am not your financial advisors. Risk it for the biscuit.
