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
IDFCFIRSTB trade ideas
IDFCFIRST BANKNSE:IDFCFIRSTB
IT HAS CLEARED OFF THE RESISTANCE OF 29.25 AND IS CLOSED ABOVE THAT
WITH 29.25 AS STOP LOSS IT CAN BE PLAYED FOR 32.50 AND BEYOND THAT 34.50
TRAIL STOP LOSS
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Hi all,
Its pleasure to have you all here.
I have started putting these charts as a contribution from my side to all people who are new to business, as I had to struggle a lot without any sources at disposal. So please consider this a just small contribution from my side.
Few Honest Disclosures:
1. Any idea shared is my personal view, its not a recommendation, neither any kind of paid propaganda, so please
do your bit of research.
2. Ideas shared does not mean that I trade all or have position in them, this is just a helping hand to all.
3. I expect no comments or like nor any negativity, as I said its just a small helping hand from my side, please plan your risk and trade as per your capacity.
4. To trade in Cash, options or futures is your sole choice and your own risk
5. I am no expert in Tech Indicators, I believe in support resistance and trendline theory, you may use this as a supplement theory for better results.
6. I work for my own living, this is a hobby which I do sincerely to help anyone who might come across my charts.
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Possible Rebound (IDFC First)Double Bottom, a tiny one has formed, also there is a teeny tiny divergence in RSI.
Also, the ratio of Price of IDFC First Bank to Nifty has double Bottom.
Seeing a possible rebound amid Covid-19. But it is unlikely because banking sector has been hit hard.
While the quarterly report can be a booster shot for the IDFC First Bank.