NeeteshJain
Long

IDFCBANK - Reviving

BSE:IDFCBANK   IDFC BANK LIMITED
It has been observed that the price action trading in a range for a while and now it has again reached to the bottom of range where a revival is expected. Once closes above 56 levels then it shall further rally up.

T1- 58
T2-60
SL-54
Trade active
Comment: Momentum begins
Trade active
Trade active: IDFCBANK adding volumes at support zone, shall move further up.
Looks like support is becoming resistance, will it be better, if we exit tomorrow, in case if it does'nt close above 53.3?
Reply
@NeeteshJain Sir it is hovering around 53. Stop hit or will it be revised?
Reply
@76764554, Yes, it is hovering near 53-52.50 support. Today, if it closes below the support then it shall turn down and reach 45-46 levels to downside. We shall need to wait patiently for sometime more to confirm the closing price of the trade in order to see actual status of the same. Thanks
Reply
76764554 NeeteshJain
@NeeteshJain, Ok sir, Thanks
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It went against your fore cast , and hit the stop on Closing basis too
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@kimara, It is still at the support zone, which is a good sign to hold on to it. As per the stoploss is concerned, I have revised it on my telegram group, which is free to access to everyone. Initially we created stoploss as we were thinking that markets rolling higher but once it corrected we still gave it a chance after revising stoploss at the crucial support levels and it did manage to hold above it after all the correction in the market. Now, if it holds further in the next week then we could see a good move from here on. Thanks
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kimara NeeteshJain
@NeeteshJain, Revising stop loss ?? then its question , because in stock market if you are wrong you are out form it until it give conviction of price action , Thanks for your reply but still i do not agree of revision of the stop loss
Reply
@kimara, I understand, and thats correct, we should never revise a stoploss until we have a logic or conviction behind it. Our conviction and logic behind the revision of stoploss is that we were at the crucial support zone where previous buyers come in to push the prices further up. I'm still holding onto it in Dec series. Thanks
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is this trade still active? It has hit your stop loss!
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@viptrades, Yes, it is still active with SL 58.
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