Idfcfirstbank
📊 IDFC FIRST BANK At Breakout 🎯NSE:IDFCFIRSTB
As one can see on the chart that IDFC FIRST BANK share at breakout level if we will get breakout then we might see target as mentioned on chart.
******whatever charts or levels sharing here are just for educational purpose only, not a recommendation. Please do your own analysis before taking any trade on them. We are not SEBI registered.
IDFC FIRST BANK, MULTIPLE CONFIRMATIONS1) In weekly TF we can see a flag and pole pattern formation and taking support from 200 MA
2) In daily TF we can see falling wedge pattern BO and consolidation below 200 MA
3) In daily TF we can see a triangle pattern formation ,after breakout of triangle pattern and price above 200 MA, we can see short term target of 5-7% and long term target of 15-20-25%
IDFCFIRST BANK - Completed retracement and waiting for GunfireIDFC First Bank after the head and shoulder pattern has retraced to price levels of @ 40 INR. I has resumed its upward journey is nearing long term resistance. In last rally it has tested this resistance of @ 51.5 and tested it and had moved further. In this rally if it breaks price of INR 52 on closing basis it will be headed for next resistances as marked on the charts.
Only for academic purpose.
IDFC FIRST BANK DAILY TRENDLINE GOOD PLACE TO GO LONG buyREASONS TO GO LONG:
> PINK ZONE 46 previous resistance can act as a very good support.
>@ DAILY trendline so upwardtrend is still intact unless it breaks it.
We can enter @cmp with SL: 44 IF it breaks that level then we might see 36 33 levels.
:
IDFCFIRSTBANK Breakout Soon ! Keep an EyeIDFCFIRST BANK has been consolidating after a rally and has formed a triangle pattern.
Started from 48 --> Rallied to 67 --> Retraced back to 50 --> Rallied to 61.7 --> Retraced back to 50.6 --> Now at 52
IT is constantly taking support at the support line of 50 and holding up.
I am expecting IDFCFIRST to trade in triangle for some time and then breakout of triangle at around price 55-56. Aggressive traders can enter at this price also and not wait for breakout.
Entry - 54-55
SL- 48
Target T1:- 61
Target T2 :- 68
Please note - This is fundamentally a good stock and can be hold even if target of 68 is reached.
Approaching the mother of all trend linesIdfc bank has taken a support at this trend line continuously since March 2020 correction. The fundamentals are improving every quarter and it is reaching escape velocity to be regrouped from deep value to value to Blue chip in a few years. There has been huge institutional buying at the levels of 57, which will serve as anti-gravity level and leaves very less chance for a big correction.
If something goes horribly wrong in the market, it might go to levels of 45-47 but this would create attractive buy from these levels for a target of 70