IndusInd Bank Ltd stock of the view with buy on deep

 

SECOND TARGET DONE IT MAKE HIGH  821 21/4/2025 INTRADAY  TGT DONE IT  

FIRST TARGET DONE IT MAKE HIGH  814  21/4/2025 

IndusInd Bank Ltd BUY 802 TGT 814/820 SL 792 INTRADAY TRADE 

Let's break down the technical chart for IndusInd Bank Ltd (NSE) based on your image using standard price action, Fibonacci, RSI, and support-resistance analysis:

🔍 Chart Overview (30-Minute Timeframe) Instrument: IndusInd Bank (NSE)

Timeframe: 30-min

Price at snapshot: ₹792

Recent High: ₹802.85

Fibonacci Levels Drawn from recent swing high to low.

📊 Technical View 🟢 Current Trend Setup Short-Term: Bullish recovery from bottom (around ₹639) after forming a double bottom.

Near-Term Resistance: Price is near a resistance (Fibo 0.382 at ₹802.85).

RSI: Overbought zone, showing signs of bearish divergence (caution).

Volume: Notably increased in recent rise — indicates buying interest.

📏 Key Levels 🔹 Support Levels ₹757 – Fibonacci 0.5 level (First major support).

₹711 – Fibonacci 0.618 level (Strong support zone).

₹646 – Fibonacci 0.786 level and major swing low.

₹639.85 – Structural support (bottom).

🔸 Resistance Levels ₹802.85 – Fibonacci 0.382 retracement (immediate resistance).

₹870-880 zone – Previous supply zone (if price breaks 802.85 cleanly).

🎯 Trade Setup 🟡 Short-Term (1–7 days) Trend: Likely a pullback/consolidation.

Trade: Wait for rejection from ₹802–₹805 zone or confirmation above.

Buy on dips near ₹757–₹740 with a target of ₹800–₹820.

Stop Loss: Below ₹711.

🟠 Medium-Term (1–4 weeks) Trend: Reversal pattern forming.

Trade: Accumulate between ₹740–₹757.

Target: ₹850–₹870

SL: ₹711 or trailing stop if breakout sustains.

🔵 Long-Term (1–3 months) Trend: Reversal potential if ₹802–₹820 zone is broken with volume.

Trade: Breakout above ₹820 could open targets of ₹900+.

SL: ₹740 (on closing basis).

⚠️ RSI & Bearish Divergence RSI is in overbought zone (above 70).

There's a visible bearish divergence forming (price up, RSI flat/down) – indicates potential for pullback.

Be cautious with aggressive longs near resistance.

🧭 Summary Table

Term Trend Action Buy Zone Target Stop Loss Short-Term Bullish/Pullback Buy on dips / Watch rejection ₹740–₹757 ₹800–₹820 ₹711 Medium-Term Bullish Reversal Accumulate ₹740–₹757 ₹850–₹870 ₹711 Long-Term Reversal Potential Add on breakout Above ₹820 ₹900+ ₹740