The stock of IndusInd Bank has been in a downtrend since early 2024. In October, the selling momentum increased and as it stands, the bears seem to be retaining their dominance.
The chart shows that the stock has been moving across a falling channel since November. The rally in price over the last two sessions has taken the stock to the upper band of the channel at ₹975, a potential barrier.
Also, the 20-day moving average resistance coincides at this price level. Hence, the probability of a fall from the current level is high. So, short the stock of IndusInd Bank at ₹965 with a stop-loss at ₹985. When the stock falls to ₹940, revise the stop-loss to ₹965. Book profits at ₹920.
Video Credit: Businessline
(Note: The…
