INDUSDIND BANK H&S PATTERN BREAKDOWN

SUMMARY:-
*stock has created a weekly head and shoulder pattern
*breakdown below 770-780 demand zone suggest a move towards 500-400 levels
*yes it has come to those levels in the past
*i have been negative on the index in banknifty and some major banks
*please check my previous weekly and special post on index
*those following me in my channel have seen action on indusind bank
*it looks relatively weaker as compared to other banks
*private sector banking index has a head and shoulder pattern breakdown waiting

NOTE
*one can go short now and keep a stop above 820
*or wait for a weekly close below 770
*its weekly so it becomes positional trade
*trade can be on for few months as well

TRADE
INDUSIND BANK FUT
SHORT@775-780
STOP@820
TARGET@700-660-600

DISCLAIMER
*my views are not trade recommendation
*please consult your financial advisor
*do not over trade
*manage risk and manage risk appetite
*for live market update click on the link in signature box
*it my personal channel for live F&O TRADES

Kommentera:

update
those who have not entered wait for a move below 780
it is back above 800

Kommentera:

UPDATE-
STILL WATI AND WATCH