IndusInd Bank — Rising Channel Near Supply With Momentum Divergence

🔍 Technical Analysis 1️⃣ Price Structure & Trendlines: Price is advancing within a well-defined rising channel, forming higher highs and higher lows since the October base. The current reaction is occurring near the upper boundary of the channel, where short-term supply pressure typically emerges. 2️⃣ Key Levels: • ₹1,000–1,020: Major overhead resistance and psychological zone. • ₹956–960: Immediate resistance near channel top. • ₹823: Strong structural support from prior breakout base. • ₹716: Major demand zone marking the origin of the uptrend. 3️⃣ Trend Behaviour: The broader structure remains bullish as long as price sustains above ₹823. However, being near channel resistance increases probability of short-term consolidation or pullback. 4️⃣ Volume Characteristics: Volume remains relatively stable without aggressive expansion, suggesting orderly uptrend rather than climactic buying. 5️⃣ RSI & Momentum: RSI is forming lower highs while price continues to rise, indicating a mild bearish divergence. Momentum remains above 50, so trend bias is intact, but divergence suggests slowing upside strength. 📢 Disclaimer: For educational and technical analysis purposes only; not investment advice. 👤 Rajneesh Sharma – SEBI Registered Research Analyst (INH000020332)