A descending triangle is a clear cut indication of consolidation followed by a breakout. A BIG BREAKOUT...........
Avoid the stock if a big gap up or gap down is seen
Enter after the breakout happens and not before it
Do not chase the market, i.e., do not get involved in late entries
Only enter with strict stop-loss and target
This is not a...
Okay, this is for long term investors. If you are not a long term investor, the idea might not interest you but please continue to read and let me know what you think. :)
So, let's talk trend-lines first.
On Monthly charts, the stock is showing an up trend formed by higher highs and higher lows, well barring one red candle.
Also, there is another trend-line...
Technicals : Weekly timeframe is suggesting to Go Long, Also support from EMA's ,ADX, MACD & last but not the least RSI above 60
My View : Go Long at current levels & keep adding on dips
Trgt is near 82
I hope you can now see how IDFCFIRSTB represents an excellent low risk profit entry setup allowing you to trade in the market.Take positions so that the risk/reward is in your favor.
Knowing why, where & when a strong reversal signal is being generated will be the only way to capitalize on your technical analysis .
Disclaimer: It should not be assumed that...
IDFCFIRSTBANK broken its neckline in previous day session. However shorting below 28 is recommended with SL 29.6. There's increase in vol when started falling in handlle formation. It indicates the weakness
Target and trading plan is mentioned in the chart.
Also, it is forming H&S as well. If it closes below 28, H&S pattern will also gets completed.
Here you can see a triangle has been formed, the rally after breakout has somewhat exhausted yet, the price is taking support from the 200MA which is a good sign for the stock to still go higher.
You can take a position if you want on Monday, @33.20, and Target for
1st Target: Between 36 to 37
2nd Target: Between 41 to 42
SL: Look for a right SL in a smaller...
TREND ANALYSIS & TRADE SETUP
Follow Chart Instruction.
Do not be Hurry for entry.
Wait for Proper Entry Setup.
Buy/Sell with Best Risk Reward.
Educational Chart Only.
August Series Option can be traded.
Wait for entry setup, if available then Long/short.
Reward is 8-10 Times
Do not take weekly or monthly position in idfc first bank. The decreasing volume with increasing price shows an indication of bearish fall coming. RSI also shows a small divergence from price. Trade cautiously. Trade the breakout if it falls.