Short-term traders can buy the stock of Indian Bank at current levels. The stock has been consolidating sideways since the last week of September. The recent rise indicates that this consolidation could be coming to an end. There is an inverted head and shoulder pattern visible on the charts. This strengthens the bullish case. The neckline support of the inverted head and shoulder pattern is at ₹441. Below that, ₹434 is the next important support. The Indian Bank share price can rise to ₹490 over the next two to three weeks. Short-term traders can buy this stock at current levels. Accumulate on dips at ₹443. Keep the stop-loss at ₹431. Trail the stop-loss up to ₹451 as soon as the stock moves up to ₹458. Move the stop-loss further up to ₹465 when the price touches ₹472. Exit the long positions at ₹485.
(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)