Technical Expert's View: Crucial Resistance Zone Hindering IndusInd Bank's Stock Performance

Vaibhav Kaushik, a research analyst at GCL Broking, explained why the share price of IndusInd Bank is under pressure today by stating that the bank's stock is trading ex-dividend today, which should be viewed as a market price adjustment. In any case, the stock's fundamentals are extremely solid. The results that IndusInd Bank presented were good, and its outlook is also very encouraging. According to the business news headline, positional investors should view this slump as a buying opportunity.

Ganesh Dongre, Senior Manager of Technical Research at Anand Rathi, stated that the Rs. 1,300 – Rs. 1,320 zone is a significant hurdle for IndusInd Bank's share price while referring to the share price chart. When this resistance is broken, the stock might start to move strongly in the upward direction and reach levels of Rs. 1,420 per share. Given that the stock is currently trading between Rs. 1,180 and Rs. 1,320 a share, one should wait for further corrections. The final dividend payment is expected to cause IndusInd shares to move in a range of ranges for several sessions, according to Anand Rathi, an expert.

According to Vaibhav Kaushik on India business news, people who own IndusInd Bank shares in their stock portfolio are recommended to keep their trailing stop loss at Rs. 1,250 because the stock has immediate support set at levels of Rs. 1,250 per share.