In the previous session, the market opened on a flat note but soon slipped into a negative territory. However, the NIFTY Index gradually recovered from its low as the day progressed and closed with a minor loss of 15.70. The overall session was volatile for the market. Technically, the index made a bearish candle on the chart. Hence, we recommend continuing to approach the markets in a stock-specific way.
Look at the below research report of ‘Stocks to Buy for – Wednesday, September, 2021’ the market opens.
NSE :INDUSINDBK BSE :532187 Sector : Banks
In the daily time frame, INDUSINDBANK share prices are moving in the form of the ‘Double Bottom’ pattern. Stock is facing hurdles near 1012-1015 levels from the past few days. We have not seen any closing above this zone for a few days. Hence these levels have now become an important resistance for the stock. In the previous session, Stock tried to break this level but failed to hold its strength. Again, any closing above these levels will be the indication of upside momentum. Since price has taken strong support of 100 EMA which suggests positive bias for the short term.
In short, INDUSINDBANK looks to be positive for the short-term view. Stock can be bought above previous days high level near 1015 and we expect it to move towards 1070 levels. A stop loss can be placed below 970 levels.
Check More Analysis on INDUSINDBANK at: IndusInd Bank Ltd