IFBIND - Bullish Flag pattern breakoutNote: This is for educational purpose only.
There seems to be a bullish flag pattern breakout with good volume. There seems to be a breakout in RSI as well. Moreover, RSI above 65 indicates bullish momentum.
Ifbindustries
IFB - Conditional Trade IdeaKey S&R have been marked on the chart.
The converging triangle pattern fits majority of stocks post COVID - so its not a surprise.
Below 395; Short for Target upto 380; SL 410
Above 410; Long for Targets of 420; SL 395.
Wait for 15 min candle to close before taking positions.
IFB Industries - Study - Long above 720IFB looks bullish on charts above 720 for a target of 800, 885, 1005 & 1070.
Stoploss : 630
Higher Trade and Delivery with Bullish HaramiConsistently improving on Higher Delivery quantity and trade quantity
Close to 52 week low Zone
Formed Bullish Harami.
Keep on track for trend reversal and add to long
IFB Industries : A Good Move AheadIt's a Good Long weekend, Days like these are the most welcome ones & I also have sometime to pick n choose Mid-cap stocks which are far away from the line we play by. Cutting straight to the subject IFB Industries looks quite promising based on post above, A Good 2-Year Old resistance zone is broken very convincingly with great volume surge compared to previous weeks.
Even before the New high's in 2015 it consolidated for 84 days, Now after 2 years in 2017 , same thing repeats with 105 day consolidation and good breakout at the end of it. What else we can expect in a juicy trade setup ? I believe there is good potential for upside in this stock with 875's as first zone for target & final ones being 970's.
Final Note : I didn't check much of its fundamental, but compared to peers its good, So have a look at it's fundamental & try your own analysis too :)
Let Me know if you have some info on funda's or skewed news items or numbers.
Happy Extended Weekend !
