Chart of the week. IndusInd Bank.

17 set 2022

This chart came first in my attention last year when it gave breakout around same price. I was extremally fascinated with its structure, however, due to bad news and then the Ukraine war market corrected and my SL was hit. However, this stock was always on my radar. Few weeks before it gave a breakout above 1000 with very big volume and again it caught my attention. This week, however, it has hit its first target but also gave a Cup and Handle breakout on its weekly charts. Now this stock can be recommended to everyone for investment. This is very reputed mid cap bank with very good fundamentals. I am still keeping my targets as last year. We will review this stock once it hits 2000.

CMP - 1227 (17/9/22)
T - 1600, 1800, 2000 W
SL - 1100 W
View - Medium term.