Here you can see a triangle has been formed, the rally after breakout has somewhat exhausted yet, the price is taking support from the 200MA which is a good sign for the stock to still go higher.
You can take a position if you want on Monday, @33.20, and Target for 1st Target: Between 36 to 37 2nd Target: Between 41 to 42
SL: Look for a right SL in a smaller time frame (Eg: 15 MIN) you can see a good SL @32.75
OVERALL Risk to REWARD Ratio: 1:5 for the first target, 1:8 for the second target.
Comment your VIEWS on THIS
Disclaimer: Just for Educational purposes. Not financial tips or advice.
should i close my short position? i took short position in sep fut at 32.80. seems my bad luck. please suggest your view.
advertoze
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@cryptosmarty777, I don't really practice in Futures, so I'd rather choose to not give you any speculative and specific suggestion to you. But there's one thing, my analysis shows and might help you, is that, if this doesn't go down and hit the 32 mark on Monday, then definitely it will go up. Again, just a suggestion, please take help from my suggestion rather than making a decision. Although I'm really concerned that maybe I couldn't help you but, I'd feel very glad if my analysis could help you even a little bit.
Regards
cryptosmarty777
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@advertoze, today it closed at 32. i closed my short position in profit at 32.50 :) i think uptrend continues! will make long again after confirmation.
advertoze
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@cryptosmarty777, That's great. The market was bearish today and might continue this re-correction, so IDFCFIRSTBANK might not go up this week, but in longer term, market is very bullish about IDFCFIRST and saying it to be the next HDFC BANK.
vsr937
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@advertoze, if AGR verdict tomorrow favours Vodafone, expect Idfc first to touch 34 .
cryptosmarty777
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@vsr937, If positive then minimum 15% up for tomorrow! :)
@advertoze, absolutely, i am very positive on idfc first bank. :)
advertoze
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@cryptosmarty777 , @vsr937 Will make a LONG term position on IDFC first in Cash. by the way, what do you think about market (Nifty) ? will it continue to be bearish?
cryptosmarty777
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@advertoze, dollar is getting stronger plus if tomorrow moratorium interest waiver hearing is positive,
then BN should do min 26k before this month expiry, nifty should follow 12k
but cant say about idfc first,
bcz AGR verdict is bad for idea-voda so now idfc first will follow it(things may change if they file review petition).