INDUSINDBK--@Near Its Demands??
This stock broken the previous resistance at 1275 zone strongly,
now price is approching the same zone in a corrective manner after a long time,
we have a trendline liquidity lies above the 1500,1550 and 1579 areas.
A strong demand zone is observed at 1160 levels, these are the 2 buying zones in Indusindbank.
1 at Demand and another at Resistance zone acts as support,
if price clears the trendline liquidity from previous resistance zone acts as support zone,
then the resistance at 1700 pushes the price down then it will test the demand zone at 1150 by clears the liquidity at 1250 zone,
and then price moves higher and higher.
so look for buying oppurtunity in this stock for continuity in long direction.
now price is approching the same zone in a corrective manner after a long time,
we have a trendline liquidity lies above the 1500,1550 and 1579 areas.
A strong demand zone is observed at 1160 levels, these are the 2 buying zones in Indusindbank.
1 at Demand and another at Resistance zone acts as support,
if price clears the trendline liquidity from previous resistance zone acts as support zone,
then the resistance at 1700 pushes the price down then it will test the demand zone at 1150 by clears the liquidity at 1250 zone,
and then price moves higher and higher.
so look for buying oppurtunity in this stock for continuity in long direction.
Note
price is failed to take the support at demand zones at 1275, and 1150 levels,
there is no sign of buyers at these levels,
clearly the demand acts as a flip zone and taken the liquidity below the swing lows.
Now price clears the liquidity below the demand zones and if buyers exists here, will again look for buyside after the confirmation. wait for U turn from these places.
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Also share your thoughts in the comments section.
Thanks for your Support **
--Educational Purpose Only--
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