IndusInd bank made a lifetime high around 2040 on August 3, 2018.
However, with other strong banks like HDFC bank and Kotak bank coming off their highs, looks like IndusInd bank too will follow a similar path.
I can see that the stock got rejected at its long term trendline resistance and is slowly moving down.
Good opportunity to go short with a stop loss of 2050 and successive targets of 1950 and 1900.
Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.
However, with other strong banks like HDFC bank and Kotak bank coming off their highs, looks like IndusInd bank too will follow a similar path.
I can see that the stock got rejected at its long term trendline resistance and is slowly moving down.
Good opportunity to go short with a stop loss of 2050 and successive targets of 1950 and 1900.
Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.