The analysis of the IDFC First Bank chart indicates signs of exhaustion, suggesting that the stock has reached the top of its daily and weekly Upper Band. This could be an indication that the stock's upward momentum may slow down or even reverse in the near future. Additionally, the Max Pain level, which represents the strike price at which option buyers would incur the maximum loss, is at 176. This further supports the idea that profit booking could be on the horizon, as investors may consider taking profits or reducing their exposure to the stock. It's important to note that this analysis is based on technical indicators and historical data, and further research and analysis are recommended before making any investment decisions.
Trade active:
Sorry for the Typo. Its 76 only not 176. Trading view does not provide ability to correct or edit typos.
Trade closed: target reached:
Patience pays... Target Achived.