2 Jul 2020 ● 05:43 AM
While RBL bank recently completed a 5 wave rally, IndusInd banks rally was 3 waves and it halted and has not progressed. A corrective move could mean that the entire pattern is still forming a triangle like many other stocks have done recently. But wave E down is not complete and so one more lower toward the lower line of the triangle. The last few days of consolidation is also a triangle with the lower end at 463.77, and if that breaks we go to the lower triangle line at 422.