6. Indusind Bank

🔹 Time Frame: Weekly

🔹 Current Market Price (CMP): ₹937.60

🔹 Trend/Market Structure:

➤ The stock is in a strong bearish phase, with a breakdown below key support levels and the rising trendline from 2020.

➤ Long-term structure has shifted to neutral to bearish, with prices significantly below key EMAs, indicating sustained bearish momentum.

🔹 Technical Pattern Recognition:

➤ A clear descending channel breakdown occurred, confirming a continuation of the bearish momentum.

➤ The stock is approaching critical historical demand zones that may act as support.

🔹 Key Zones:

➤ Support Zones:

Support Zone 1: ₹926 - ₹940 (Immediate demand zone near CMP)

Support Zone 2: ₹740 - ₹760 (Major multi-year support level from 2020)

➤ Resistance Zones:

Resistance Zone 1: ₹968 - ₹980 (Immediate resistance from breakdown level)

Resistance Zone 2: ₹1,020 - ₹1,050 (Key psychological and EMA resistance zone)

🔹 RSI Analysis:

➤ Current RSI Level: 26.32

➤ RSI is deep in oversold territory, suggesting potential for a short-term bounce or consolidation.

➤ Historically, such low RSI levels have led to minor pullbacks before the trend resumes.

🔹 EMA Analysis:

➤ EMA 25: ₹1,154.41 (Far above CMP, acting as strong resistance).

➤ EMA 50: ₹1,256.79 (Above EMA 25, confirming mid-term bearish sentiment).

➤ EMA 200: ₹1,220.21 (Far above CMP, indicating long-term bearish bias).

➤ EMA alignment (25 < 50 < 200) strongly reinforces the bearish trend.

🔹 Verdict:

🔹 Trend: Bearish

➤ The stock is hovering near critical support at ₹926 - ₹940. A sustained breakdown below this level could lead to further downside toward ₹740 - ₹760.

➤ RSI suggests oversold conditions, so a short-term bounce toward ₹968 - ₹980 (resistance) cannot be ruled out.

➤ Recovery above ₹1,000 is needed to reduce bearish momentum and indicate potential stabilization.