Tuesday, June 25, 2013



INDUSIND bank rallied a lot and stood as bet performer of the month in May. Stock is forming a rounding top. Recently 12 EMA crossed 34 EMA showing bearishness of the stock Almost all Indicators like RSI, MACD, STOCH are all showing weakness in the stock.

One can take positional Shorts in July series with SL at 480 for targets of 424(200DEMA) 416(trend line support)

1 comment:

  1. Still holding our shorts which we intiated at 480 levels. Stock have shown weakness even today after a small pull back. Stock is making rounding top and may see lower levels as mentioned.