Hello and welcome to this analysis
Among all large private banks, this one has been an underperformer since October 2021.
In the weekly time frame, Indusind Bank is completing the counter-trend leg of an Ichimoku Y wave.
Ichimoku Y Wave formations are formed in triangle/diagonal formations.
For further upside, it needs to start closing above 1100 on daily basis. Else below 1050, it could resume the downtrend that it started in October 2021.
For the short term, it has support at 1025/975/900
On the other hand, if it manages to sustain above 1100 it would head towards 1150 (minor resistance) and above that 1250
Among all large private banks, this one has been an underperformer since October 2021.
In the weekly time frame, Indusind Bank is completing the counter-trend leg of an Ichimoku Y wave.
Ichimoku Y Wave formations are formed in triangle/diagonal formations.
For further upside, it needs to start closing above 1100 on daily basis. Else below 1050, it could resume the downtrend that it started in October 2021.
For the short term, it has support at 1025/975/900
On the other hand, if it manages to sustain above 1100 it would head towards 1150 (minor resistance) and above that 1250
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