3L-R pattern : one can trade it with SL 58.60 on closing basis. Target is open one can book profit at 7-8% appreciation.
IDFC Bank after breaking up trend has been trading in bearish channel respecting support and resistance, it has touched the channel resistance and now heading towards the support of channel support and 50% fibo level which is around 64.00, traders may enter short slightly higher rate for better entry price.
Idfcbank is giving long breakout above 70.10, above that level it can go to 70.75 if do not break 69.55 on downside.
The stock has formed a channel at the bottom and gave the breakout so a trend reversal long trade is available at good risk to reward ratio.