IDFC: On the basis of volume as well as Marked Delivery, it is preferred choice. As per my data analysis there is a financial institute action or High Net Worth buying or Operator move emerged in the counter, resulted more than 70% marked delivery. This is the highest marked delivery value in the calendar year, (i had excluded 28th March. It was the day before year’s final future session, it seems it was ritualized JV between Funds.)
Considering volatility of 14th Sept. session (+40), it seems that it was one of the the rare combinations of volatility as well as marked delivery.
Chart it is suggesting next top level of 60.20. Of course, it is in my intraday gainer list for target of 51.30 Swing target is 55.30
In short, after a long time, IDFC is in Intraday, Swing and Investment list.
Trade Plan : I am going to buy in the first few candles, of course below 51.35, The assumption is, in the Morning Euphoria, to take the first move advantage, the counter shall move higher to form Higher High. I Shall book 50% at that rate, as intraday trader. Since i have long term view, my planned SL is 48.10, But i shall hardly triggered Stop Loss at that rate, as share had formed few technical patterns from June 18 to Sept 18. like rounding bottom, formation of cup and handle, recently it had crossed 10 DMA as well it is above 50 DMA. 200 DMA is few points away.
Smile.