IDFC FIRST BANK : Monthly Breakout
Updated
In monthly chart, falling wedge breakout and further analysed in multiple time frame and parameter as mentioned below:
Parallel Channel: 2D: The movement of price was downward channel, with defined resistance (red arrow) and support (green arrow). The stock breakout from its range and subsequent buy observed.
EMA, Volume and Bullish Candle: 1D: The crossover of EMA 20 & EMA 50 with significate rise in volume was the entry point and second entry was at bullish engulfing candle.
Disclaimer : The chart analysed for educational purpose only.
Thanks
-AJ
Parallel Channel: 2D: The movement of price was downward channel, with defined resistance (red arrow) and support (green arrow). The stock breakout from its range and subsequent buy observed.
EMA, Volume and Bullish Candle: 1D: The crossover of EMA 20 & EMA 50 with significate rise in volume was the entry point and second entry was at bullish engulfing candle.
Disclaimer : The chart analysed for educational purpose only.
Thanks
-AJ
Note
Breakout with bullish candle and solid volume.Price above all key moving average.
Thanks
-AJ
Note
support & resistanceNote
resistance breakoutNote
Volume Breakout !!Note
stop loss Rs 78.40
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.