IDFCBank First bank is at the verge of a breakout and looks good to buy above trendline for marked targets on the chart.
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Disclaimer: It should not be assumed that...
On Daily time frame, it is still trade below 200DMA.
200DMA is placed at 53.05 level.
Also it closed in the resistance zone of 52- 52.50.
It will be bullish once it give sustainable breakout of 54 level or 200DMA.
All the targets are mentioned on the chart.
Please refer below chart : 1day Time Frame.
***************Please note this is...
REASONS 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.