INDUSIND BANK Share Tips, Technical Analysis Chart, Intraday Stock Trading Graph Advice - Stock moving up from strong support, upper side will find resistance around 572, 587. (Updated on 20th August 2014, Wednesday).

INDUSIND BANK

• As per previous report published on INDUSIND BANK stock failed to close above 585 and fell down after that made a low of 528. (Click here to see previous report published on INDUSIND BANK).
• Now daily chart indicates stock is moving up from 50% fibonacci retracement support , so as long as stock trades above it will be favored by bulls. On upper side stock will find trend line resistance around 572, once stock closes and stays above 572 then stock looking bullish for next few days and stock will find next resistance around 587 its previous top.
• Intraday close watch once stock starts trading above 572, if stays above in day trading then intraday bulls action is expecting in Indusind Bank.
• Suggested Reading - INOX LEISURE has formed triangle formation, sharp move expecting once stock come out.
• As per graph no 2 stock is moving in a long range bound zone (587-520) once stock comes out from its range then sharp move is expecting.
• As per graph no 3, once stock closes and stays above 587 (its previous top) then bulls will get active, and if stock moves up the Indusind Bank next resistance around 623 its 161.8% fibonacci retracement. Close Watch.
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