IDFC First Bank - The Quantum Leap in makingIDFC First Bank crosses the Monthly RSI of 60 for the first time in its life time. The volume build up to crossing this 60 RSI is phenomenal. This one is looking to run for a good 4-5 years next above RSI of 60. It needs to cross 56.90 this month and stay above it on closing basis. Let us see.
DISC: Not a SEBI Registered. I post charts for my own study.
IDFCFIRSTB trade ideas
#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+.