IndusInd Bank up 54% from 52-week low; time to buy or book profits?

Systematix Shares and Stocks (India) Limited on Tuesday recommended a ‘Buy’ on IndusInd Bank Ltd in the cash market at Rs 932-928, with a stop loss at Rs 890 and upside targets of Rs 970 and Rs 1,010. IndusInd Bank has rallied 54 per cent from its March 2025 low of Rs 605.40 and recently witnessed a bullish breakout on technical charts.

Systematix said IndusInd Bank Ltd is exhibiting a constructive technical setup following a confirmed bullish breakout from a six-month ‘Cup and Handle’ formation near the Rs 893 level, indicating strong pattern credibility and accumulation.

Post-breakout, the brokerage said the stock entered a healthy consolidation phase while consistently finding support around the 20-day moving average of Rs 911, reflecting underlying buying interest and trend strength.

Additionally, the stock sustained above the key 61.8 per cent Fibonacci retracement level at Rs 919, drawn from the swing high of Rs 961 to the low of Rs 851, suggesting that the recent correction phase had likely concluded and the primary uptrend may resume.

Systematix said the overall moving average alignment across short- to long-term time frames remained positive, further supporting the bullish bias.

“Hence, the ongoing dip toward the Rs 932-928 zone can be considered a favourable buying opportunity, with a closing stop loss at Rs 890 to manage downside risk, while near-term upside targets are placed at 970 and 1010 levels,” it said.

On Tuesday, the scrip traded at Rs 931.25 apiece.

To recall, IndusInd Bank turned to profit from loss in the December quarter, but its PAT missed consensus estimate on higher credit cost and wage provision, partly offset by lower core opex. The private lender's management has guided return on asset (RoA) of 1 per cent by end-FY27. Anlaysts said the RoA delivery will depend on the pace of decline in slippage as the bank also aspires to lower net NPA to 0.6 per cent from 1 per cent.