IDFC FIRST BANK SHORT TERM BEARISHExpecting a short term bearish move to INR 40.5 and then big leg up!!
Idfcfirstbank
#IDFCFIRST How often do you get to see setups like these? It is on the verge of breaking out of its multi-year downtrend. Coupled with awesome fundamentals, this will turn technically actionable if it closes above.
As mentioned earlier, I am a long term investor here and have bought it at all prices since inception. My current cost is under 30 Rs. Might enter for trading when it closes above the downward trendline.
IDFC Bank CMP 34.25IDFC Bank CMP 34.25. In yesterdays ie on 21.12.20 corrected by around 7.5% following general market trend and took support at 50EMA of 34.53. It is on ascending wedge pattern and after taken support at the bottom of wedge shall go up in near future and cross previous highs of 39 soon with a longer term targets of 44.3, 46.35, 50+.
Upside trend {Short Position} near 39.50 if gets support at 35.50 for upcoming weeks
TG1~37
TG2~39
For reversal trend for upcoming days
TG1~36
TG2~35.70
IDFCFIRSTBK - Indicating Strong Upside It has been observed in the chart that the price action firstly formed Cup n Handle chart and then consolidated in a range. Then it further break the consolidation with a strong bullish candlestick and now retracing back to the previous resistance zone, making it a support for buyers now. Now, it seems to all set to rally from here on.
T-33, T-36, SL 30
IDFC FIRST_LONG*broken 2.5 month long channel
*tested last support & closes positive with good volume
*looks good for target price of 37
IDFCFIRSTB - OPPORTUNITY OF 300% RETURNS IN 2 MONTHSIDFCFIRSTB - OPPORTUNITY OF 300% RETURNS IN 2 MONTHS
BUY @ 14.65 WITH A SL OF 12.15 AND A TARGET OF 41.65. TARGET SHOULD BE ACHIEVED BY MAY-END 2020
