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.