Indusind Bank: Chart update - 13 Feb 14

The above chart is monthly chart of Indusind bank. Look at the period between 2009 till yesterday, in this period the stock was almost flat for a period of one and a half year between 2010 to 2012 first quarter other than that it never breached the secular trend line. This trend line was broken in August this year, but that is only for a day as shown in daily chart below.

Again the stock bounced back to higher levels. Now, the time is back again and the stock is taking support at the trend line.

Will be interesting to see if it is able to hold the trend line and move higher or this is the end of stock rally for this one.. in later case be ready for very low levels may be 300 to start with and 225 later..btw my financial analysis on stock says it is better than HDFC Bank (comparison done last time in a different post)

Disclosures: I don't hold any open position in either stocks (investment or trading)