Indian Bank (NSE) SHORT POSITION

On the 4-hour chart, we can expect a bearish confirmation of the MACD crossover indicator, because as we can see, the MACD line and the signal line are already getting close to each other. The stock price is also moving to the middle level of the Keltner channel. The Williams Fractals indicator shows a bearish confirmation either. In view of these findings, we expect the price will reach a middle level and consequently, a re-test should be performed.

Position: SHORT
Entry level: $ 1.85
Target price: $ 1.70

NO FINANCIAL ADVICE