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IFCI LTD

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IFCI trade ideas

IFCI on Weekly TFIFCI looks bullish on daily, weekly and monthly timeframe. It is making rounding bottom which recently touched its resistance with humongous volume like we can see back in 2007. It has already broken the resistance levels with volume. If you see price goes up and retrace back to touch the support level, it would be a good entry point. It may also retrace back from its resistance to form a cup and handle pattern. RSI : Above 60 on daily, monthly and weekly time frame
NSE:IFCILong
by vikasbhekare
ifciAt the time of independence in 1947, the Indian Capital Markets were relatively less developed. The demand for capital was growing rapidly, however there was a dearth of providers of capital. The commercial banks that existed were not equipped well enough to provide for long term capital needs in any significant manner. Against this backdrop and to bridge the demand supply gap for capital needs of the economy, the Government of India established The Industrial Finance Corporation of India (IFCI) on July 1, 1948 by way of an IFC Act 1948. IFCI was the first Development Financial Institution of India set up to propel economic growth through development of infrastructure and industry. Since then, IFCI has contributed significantly to the economy through its incessant support to projects in all the three spheres of growth & development - manufacturing, infrastructure & services and agriculture allied sectors. The Liberalisation of the Indian Economy in 1991 made significant changes in the Indian Capital Markets & Financial System. To aid raising of funds directly through capital markets, the constitution of IFCI was changed from a statutory corporation to a company under the Indian Companies Act, 1956. Subsequently, the name of the company was changed to ‘IFCI Limited’ with effect from October 1999.
NSE:IFCILong
by Tradernawab