IndusInd Bank Ltd. – Bears ready to roar?IndusInd Bank Ltd.NSE:INDUSINDBKthekalpbardiaIndusInd Bank appears to be undergoing a larger-degree Wave 4 consolidation, with price trading within a broad structural channel on the long-term chart. The current formation reflects a prolonged corrective phase rather than a trending impulsive advance. With the stock trading at CMP ₹920, recent price behaviour indicates exhaustion on rallies, with repeated failure to sustain higher levels. The upper boundary of the channel continues to act as a supply zone, reinforcing the corrective interpretation. From a structural standpoint, downside projections are as follows: ₹590 – aligning with key impulsive Fibonacci retracement support ₹350 – equality projection relative to the prior decline In a broader bearish scenario, price may extend towards the lower boundary of the long-term channel (Wave Y region) near ₹200–₹220 The overall structure suggests that the stock remains within a distributional corrective framework, with risk skewed to the downside unless a decisive breakout above channel resistance alters the broader wave count.