Swing Trade idea IFCIIFCI was facing stiff resistance and was trading in a broadening channel since 2021. It made a decisive close above that channel in sept 2023 and retraced. Currently its trying to bounce from the same resistance level. Buy above 25 with a stop below 22 and targets of 33 in coming few weeks.
IFCI
#IFCI LONG TRADE IDEA SETUPGreetings Folks,
today i have prepared a setup of IFCI on NSE
the analysis is as follows
- the price had a good breakout
- i am looking for a deeper retracement than usual
- the zone i have marked is very important support
- if this zone breaks, the uptrend likely wont continue
dont play with fire, always use a predefined stoploss
IFCI LongStock has closed above 50DMA today at 16.53.
Such breakouts in November 2017 and July 2017 resulted in a big upmove...
Trade :
Buy IFCI at CMP
SL below 10DMA at 15.90
Target towards 100DMA of 18.25 and 200DMA at 20.60
Can be achieved in August - September series.
Disclosure: For educational purposes.