Hold IndusInd Bank around Rs 229-232: Jain

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Hold IndusInd Bank around Rs 229-232: Jain

Once IndusInd Bank breaks out from the level of 230, then it could get back to as high as Rs 250-255. But the stronger thing would be to hold on to these Rs 229 to 232 levels, says Anu Jain, IIFL Private Wealth Mgmt, India Infoline.

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Excerpts from Bazaar on CNBC-TV18 Watch the full show » ALSO READ See previous views by Anu Jain See what other Experts & Brokerages are saying about IndusInd Bank See messages about IndusInd Bank IndusInd Bank BSE | NSE 30/05/12 Are Mutual Funds betting on IndusInd Bank?

Once IndusInd Bank breaks out from the level of 230, then it could get back to as high as Rs 250-255. But the stronger thing would be to hold on to these Rs 229 to 232 levels, says Anu Jain , IIFL Private Wealth Mgmt, India Infoline.

Jain told CNBC-TV18, "On the charts of IndusInd Bank, Rs 235 level is where there is some resistance because that is high. It has gone to those levels of Rs 237 and now it is trading above those Rs 230 levels. Probably look at these Rs 239 levels if it is holding that, would definitely continue to be in it. Probably once it breaks out from these levels then it could get back to as high as Rs 250-255. But the stronger thing would be to hold on to these Rs 229 to 232 levels. It is right now into resistance zone beyond that it would really get a breakout."