Stocks

IndusInd Bank hits over one-month low

Reuters Mumbai | Updated on January 14, 2019 Published on January 14, 2019

IndusInd bank’s stock broke below a support at ₹1,507.07. File photo

Shares of IndusInd Bank Ltd fall as much as 2.42 per cent to ₹1,478.55. This has been the lowest since December 11, 2018.

The bank’s stock broke below a support at ₹1,507.07.

This suggests that in the near term, the stock may test the next support at ₹1,443.63.

The stock's wave pattern suggests that it is in the initial wave of a five-wave downtrend.

The stocks were down 5.26 per cent this year as of last close, compared to the broader National Stock Exchange (NSE) Index's 0.62 per cent fall.

Published on January 14, 2019
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