smallcapDADDY

IDFC FIRST BANK--> Good investment opportunity?

NSE:IDFCFIRSTB   IDFC FIRST BANK
Anyone waiting for making an investment can invest only if it touches 52.5 strictly and keep a strict emergency stoploss in case of surge of covid cases again

Comments

hii smallcap daddy, i have a douvbt in your idea, how can it be a bullish trade if the stock is in downtrend now.
+2 Reply
smallcapDADDY Jayesh_chopra
@Jayesh_chopra, thatswhy i said only buy if it touches 52.5..it will turn bullish if it can cross this level
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Jayesh_chopra smallcapDADDY
@smallcapDADDY, okay, but what is the indication it will turn bullish after 52.5, i thought it would be bullish after breaking the channel from upside, can you please help me in understanding that.
+1 Reply
@Jayesh_chopra Its a weekly chart so every weekly candle it more relevant than a daily candle .. a doji candle signifies a buying pressure from below .. if it can cross the high of the doji in next few week there are more chances that price will touch the upper channel where i have my 1 st target to offload 50% quantity
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Jayesh_chopra smallcapDADDY
@smallcapDADDY, yes, i got it now, you are right i overlooked the doji.
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Vodafone issues reflect in idfc?
+1 Reply
@giridharan1316 ofcourse, they have exposure of over 3200 crore rupees (which is 2.9% of their loan book) and if reports are emerging that govt is working on relief package for telecom sector which might be announced by August end
+1 Reply
smallcapDADDY giridharan1316
@giridharan1316, Don't worry vodafone won't go down.. govt. is there
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aakashshah0007 smallcapDADDY
@smallcapDADDY, any chance of reversal tomorrow after seeing today's sell off ?
+1 Reply
smallcapDADDY aakashshah0007
@aakashshah0007, Currently cnxsmallcap 100 and cnxmidcap 100 both indices are sitting on 50SMA there could be a recovery.. if those indices falls below 50SMA then sharp correction or a sideways consolidation can be expected in midcap and smallcap.. IDFC first is pretty weak due to sharp sell off..only consider buying when it closes above 52.5 on weekly basis
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