IDFC First bank has Given Breakout from inverted H&S Pattern on Weekly charts & sustained closing above Neckline.
Projected Targets coming as 130 in coming 42 weeks.
Happy Investment to my Friends & Followers.
IDFC First Bank Ltd (IDFB) Break out level.
Today momentum created in IDFC first bank stock.
With high volume. Price increase.
If tomorrow open 46 good buying opportunity.
Time to go for long. Next target 48.50, 51, 55. Thank you
IDFCBank First bank is at the verge of a breakout and looks good to buy above trendline for marked targets on the chart.
To motivate us, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team
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...
NSE:IDFCFIRSTB
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.
:
IDFCFIRSTB IS STUCK IN A RECTANGLE ZONE AND IT SEEMS IT WILL TRY TO CONSOLIDATE NEAR THIS ZONE FOR A WHILE WITH THE UPPER REGION HAVING RESISTANCES AT 24/27 AND THE LOWER REGION AT 20/18.IT WILL TEST THESE LEVELS MULTIPLE TIMES IN FUTURE BEFORE GIVING A FINAL BREAKOUT.
