In the previous session, the Nifty Index saw a gap up opening in the morning session and made high near 18728. However, the market gave up all intraday gains. Technically the Nifty Index formed a Doji candle with long lower shadow on the chart and closed on a flat note. Market looks volatile for tomorrow, hence a cautious approach is advisable for the next trading day.

 Look at the below research report of ‘Stocks to Buy for Tuesday, December 06,2022 December’ before the market opens.

IndusInd Bank Ltd.

In the daily time frame, share prices are moving in the form of the ‘Symmetrical Triangle’ pattern. As shown on the chart, prices is moving above the neckline of the pattern. A white bullish window appeared on the daily chart. As per pattern theory, 180 points movement on upside can be expected in coming days. Stock comfortably closed above the 20 days EMA support which indicates short term bullishness.

In short, trend for INDUSIND BANK looks to be positive for now. As prices have decisively broken above 1190 level, we can expect it to reach a target of 1370 based on our analysis. This outlook is valid as long as 1135 remains protected on downside and any pullback should be utilized as buying opportunity.

Check More Analysis on INDUSINDBANK at: IndusInd Bank Ltd.