Technical Analysis IndusInd Bank

The stock

is currently in a recovery phase after a significant period of volatility and a deep correction seen earlier in the timeline. Here is a simplified technical breakdown. After hitting a major bottom around the 700–720 range the stock has climbed steadily to its current price of 926.05. The recent candles show strong buying interest with the price pushing toward the psychological resistance of 960–1000. Recently Resistance is 960. You can see a previous peak near this level. If the stock breaks and stays above 960 it could quickly rally toward 1040. Recent Support is ***** is the recent higher low. As long as the stock stays above this the short-term uptrend is intact. The stock spent some time moving sideways in December before the current breakout. This base building usually makes the subsequent move more sustainable. For Buyers a fresh entry might be safer if the stock clears 960 or dips back to the 880 support level. Holders it is worth holding with a trailing stop loss (moving your exit point up as the price rises) to protect your gains.