IFB Industries, is looking good to accumulate for swing trade.This stock is forming a clear cup & handle pattern and we can enter in it after breakout of handle.
Entry :1070
Target 1 (Few days) : 1186
Target 2 (Few weeks) : 1456
SL : 995
IFBIND trade ideas
Descending triangle pattern breakoutForming a descending triangle pattern in uptrend,
Breakout from pattern,
IFBweekly - took support at 50EMA
Daily - Took support at support line. Good breakout with volumes. Change in structure from LL to LH to HH.
Target = 1499 INR
SL = 905 INR
RR is good.
IFBIND Trendline Breakout and Closing above UBB IFBIND Trendline Breakout and Closing above UBB shows strong Bullish momentum.
IFB simple price actionbuy because
1. trend in still long side
2. weekly doji formed near weekly support
3.retrace till 62% from above
sl close below 38% retracement level on weekly basis
tgt 1500
ifb 2.0FB Industries Ltd. is currently operating in two segments, manufacturing of fine blank components and manufacturing and marketing of consumer durable goods. IFB manufactures fine blanking components for two-wheelers, four-wheelers, heavy vehicles and electricals OEMs, with an established brand presence and diversified product portfolio of front load washing machines, top-load washing machines, dryers, ACs, microwave ovens, dishwashers, modular kitchen, and chimneys.
IFB has its manufacturing facilities for fine blanking division in Kolkata and Bengaluru and for consumer appliances in Goa and Bengaluru.
The company has diversified revenue profile having a presence in fine blanking division and household appliances contributing around 18% and 82%. The company has adequate product diversity, led by the segmental contribution of around 52% from front load washing machine, 18% from top load washing machines, 13% from microwave ovens, 11% for ACs and remaining 6% from other product categories.
The new AC manufacturing plant in Goa, which was commissioned in Q4 FY20, has ramped up production. IFB is in final stages of concluding its OEM tie-ups and expects to run the plant at 100% capacity utilization during the upcoming peak summer season of January-June 2021 by manufacturing 50,000 units per month.
IFB’s key focus is on scaling up the AC business and reducing material costs & fixed overheads to improve margins.
IFB - SPIN the Front LoadIFB - Breaking out of 16 month on weekly, followed by a retest. Front Load it. This is getting ready to SPIN for few months joyride with RSI above 60.
DISC: Not a SEBI Registered. I post charts for my own study.
IFBIND As said above 800 is very bullish,
Ifb broke out of the falling wedge and now at a previous high resistance 994.. a break above this is needed
IFB CONFUSED???IFB is forming ascending wedge should breakout either way but 800 is a strong support.. lets see what happens
Ifbind breakout buy ifbinds
sector home tools
sector- bullish neutral
consolidation- done 2 weeks
breakout - done w pattern bo
200 ema-rising 15
RS - strong yes
volume- heavy b
bo level 640
buy level 646
buy date 6.10.20
bo day close 647
IFB INDUSTRIES - BullishMedium term bullishness seen in IFB INDUSTRIES in daily charts. Compelling product range. Business recovery will be improved.
Wedge patternLong or short depend upon breakout on which side if it gives breakout on higher side than long and look for target at resistance which is marked and if breakout on lower side than look for short and target is nearest support as marked.
