IDFCFIRSTB Monthly Chart📉 Recent Price Context
The stock recently plunged sharply (up to 20%) after fraud disclosure news, hitting lower circuit near ~₹67-70 range.
This means yesterday’s price action reset many short-term setups and made prior levels less reliable until consolidation stabilizes.
📊 Key 1-Month Technical Levels
🔹 Resistance (Upside)
These are levels where price may face selling pressure if it attempts to recover:
~₹77–78 – Initial resistance zone from recent swing high attempts.
~₹81–83 – Mid-term resistance area (previous pivot/average area).
~₹85–87 – Upper resistance near recent 52-week highs from prior trend history.
These resistance points are derived from historical pivot points, SMA levels, and prior recent price clustering before today’s plunge.
🔸 Support (Downside)
Important zones where price may find demand / bounce:
~₹67 – Short-term support and recent low (lower circuit).
~₹64–66 – Next support band from the 52-week range lows.
~₹60 – Psychological deeper support if panic selling continues (approx).
📌 Pivot Reference Areas
Some pivot and classic technical levels that were noted before extreme volatility:
Pivot point ~₹82–83
Classic support 1 ~₹80
Classic resistance 1 ~₹86-87
These help in identifying potential intraday/intra-week balance zones once trading stabilizes.
📈 Technical Indicator Context
Even before recent sharp moves:
Oscillators indicated a mixed/neutral to bearish tone on the short term.
Pivot and moving average pivot zones were signalling price congestion near ~₹80-83 zones.
This means the trend was choppy near the current price range even before the plunge. Combined with news-driven volatility, levels may shift quickly as markets digest developments.
⚠️ Important Note
The recent sharp 20% drop driven by reported fraud issues has created extreme volatility and may invalidate many pre-existing technical patterns and pivots until volatility subsides.
If you’re using these levels for intraday or short-term trading, watch for new consolidation and volume confirmation first before relying heavily on old pivot/resistance metrics.
Long
