Stocks

IndusInd Bank at over 10-week low; chart suggests more downside

Reuters | Updated on May 10, 2019 Published on May 10, 2019

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In the near term, the stock will have support at Rs 1,398

Shares of IndusInd Bank Limited fell as much as 1.21 per cent to Rs 1,458.70, their lowest since February 27, 2019.

The stock broke below a support at Rs 1,481.94.

It formed a dead-cross on Tuesday when its 50-day exponential moving average (EMA) crossed below its 200-day EMA.

In the near term, the stock will have support at Rs 1,398.

The stock fell down at 16.4 per cent in the last one month as of Thursday, compared to the Nifty’s 3.2 per cent fall in the same period.

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Published on May 10, 2019
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