March 27, 2019 / 4:49 AM / 3 months ago

BUZZ-India's IndusInd Bank hits over 6-mth high; chart points to more upside

** Shares of IndusInd Bank Ltd gain as much as 4.83 pct to 1,797.4 rupees, highest since Sept. 21, 2018

** Stock breaks above a resistance at 1,768.75 rupees, the 61.8 pct Fibonacci retracement level of the downtrend from Aug. 3 high to Oct. 31 low tmsnrt.rs/2UWHD0n

** A close above this 61.8 pct level may lead to further price rise up to the next resistance at 1,871.65 rupees, the 76.4 pct retracement level

** Stock’s 20-day exponential moving average (EMA) cuts above its 200-day EMA, seen as a bullish sign

** Trend intensity(TI) indicator rises two points to 33, suggests stock is in a strong uptrend

** MACD is positive and above its signal line

** Stock up 16 pct in the last one month as of Tuesday’s close, outperforming the broader NSE Index’s 6 pct gains in the same period (Reporting by Gaurav Dogra)

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