Banking stocks have largely underperformed benchmark nifty, however it seems that banks are having a rally(expectedly before budget) and IDFC First bank is poised to reap good rewards. Currently trading at LTP: 83.0 and breaking a major resistance. It is very likely that IDFC bank may give another 8-10 % in the coming 15-20 days. One might carefully strategize a bull spread to maximize profits.
Note
Strong buying can be seen around 77 Rs.
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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.