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KRSCharts
Apr 10, 2024 10:10 AM

IDFC FIRST BANK (Psychology Analysis)  Long

NSE:IDFCFIRSTB1D
IDFC FIRST BANKNSE

Description

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Date 10th April 2024
Time: 3:30

IDFC FIRST BANK was in a correction from last year's Sept.

After showing full correction Wave At the end of March it Gap Down and from 1st Day of April it Started moving up seems like its short covering .

But More Confirmation for going long is on 8th April IDFC Gap Up and Going upside continuously.

and finally, today it breaks Out from Resistance Line and give closing above it.

Round figure Price level 80 is Strong Support with SL of 81 We can Long IDFC FIRST BANK.

Target ATH Price with 1:5 Risk Reward.

Thank You!

Comment

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Closing was still above 81 Rs, it fills Prev gap today.

Comment

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SL Reduced to 82.50 Daily Closing Basis.

Comment

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if it won't make closing above Green Support line, I'll Close this trade at end of this day.

Comment

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Trade is still on further on this tomorrow at the beginning of day.

Comment

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Can Carry Until it is taking Support on green Line.

Trade closed: stop reached

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Trend AnalysisWave AnalysisGannidfcfirstbanknsebuyopportunityBullish Patternspsychological
Comments
sauravpatronum
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Will it hit the target of 100 in may? I guess its consolidating in 1D & 1W frame, what are your views?
KRSCharts
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@sauravpatronum, Until it holds above POC line you can hope for Good Bullish Momentum and incase of below POC, Take SL on Daily Closing Basis,
Currently Price is right on POC line. So, you can wait for 2 days more on 26th April IDFC will release Results and some movements are expected.
KRSCharts
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@KRSCharts, IDFC First Bank has a good history with Flag Breakouts if you can check previous Price actions.
KRSCharts
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@sauravpatronum, As I Mentioned IDFC First Bank is good with Flags and Today Breakout with Gap Up.
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