After a 4 year down trend , the price has managed to terminate that trend. Facing a resistance at 48, if it manages to cross it can quickly race to the target.
However, if not, it could most probably gather itself at 42-45 for its fresh upmove.
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
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...
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...
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...