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IDFC First Bank Shines with Excellent Q1 Performance.IDFC First Q1 Result. Impressive performance across the board! Deposits up 44% YoY, Advances up 25% YoY, Profits up 61% YoY. Net NPA down to 0.7% (Which is very good indication). ROA at 1.24% vs 0.97% YoY. QoQ net income down -731 Cr. vs 816 Cr. in Q4FY23, but excluding a one-off income of 180-200 cr. from the last quarter, results are still better on a QoQ basis. Why to Invest in IDFC first ? They are many reasons to invest in IDFC Bank, but trading in this company seems risky and tricky right now. However, if you are someone who believes in the narrative that for India to grow, the banking sector would have to follow the same path, then undervalued and growing banks will benefit the most. Stocks like IDFC First Bank are more likely to double their Market Cap. So, if you are a long-term and serious investor like me, this analysis will help you. Why to Avoid Trading ? Now, let's discuss why trading this stock is currently considerably risky. The stock is trading near 200% of its support level, following a special channel pattern known as a big-length rectangle pattern, which makes it riskier from a trading perspective. How to Invest ? We plan to take a longer position in this stock. As visible from the chart, the stock has tested its resistance on a weekly timeframe. As, we all know Q1 results are out, Earnings have been impressive, indicating a potential strong breakout with good volume. If that happens, we'll invest half of our money and wait for a retracement before putting in the rest. But, if the stock falls instead of breaking out, it'll be a great opportunity to invest, and in that case, we'll wait for a consolidation. Note- I am not a SEBI registered, Please consult to your Advisor before investing.
NSE:IDFCFIRSTBLong
by BullishLine
INDEX WEEKLY UPDATE GLOBAL MARKET UPDATE -us mkt rallied big time due to noise of 25 bps rate hike only from feb -fed voting members chance in tone -us bond yield and dollar index indicating the pivot is near -nasdaq outperformed rest of the indicies -china open play still active -its clear fpi investment in chineese stocks have increased -7 day holiday in china due to festive season INDIAN MARKET UPATE -dollar/inr below 81 -dollar index below 102 -weekly chart of the both signaling bearish view for dollar -weak dollar positive for financials and metals -double top or "M" in dollar/inr weekly chart -top numbers by icici bank and kotak bank HAD PROMISED TO PICK SECTOR OF THE MONTH -we had picked metal index for jan -we will continue to stay long on metal stocks for china play -the index which is added on relative strenth basis is "IT SECTOR" -LONGS IN METAL AND IT SECTOR -EXPECT IT SECTOR TO START OUTPERFORMING TECHNICALS NIFTY INDEX -nifty index is still within the trading zone of 18250-18300 to 17830-17770 -had discussed in the group about actual bear trap on friday -were markekt closed below 18100 and now 18100 ce having max oi -if market opens above 18150 according sgx will force 18100 ce writers to cover the position -18100 can be the base for nifty this week -nifty index on weekly chart has inside bar pattern for past 4 weeks -sooner or later the range will break -probability is on a upside break -positive divergence in nifty -price above bearish trendline and sustaining MAJOR RESISTANCE 18250-18300 MAJOR SUPPORT 17830-17770 TECHNICAL BANKNIFTY INDEX -friday technically banknifty breakout of a small trading range -price trying to cross above major moving averages -banknifty has created higher low formation from past 4 days -major range from 42750 to 41800 is above to break on the upside -icici bank and kotak bank great numbers -rbl bank and idfc bank also great numbers -had mention icici bank and kotak bank are going negative into event -short-covering is possible -hdfc bank has started its bull run -we have started to see a symmetrical triangle pattern on daily chart in banknifty MAJOR RESISTANCE 42750-42850 MAJOR SUPPORT 41850-41750
NSE:BANKNIFTY1!
by manavtechresearch
IDFC First Bank - BreakoutHello All, Greetings! IDFC Bank Shows Breakout it has been very clear that IDFC Banks Chart shows clear breakout from from Downtrend Triangle Pattern. Important Things 1. This is only for educational purposes only. 2. Never over trade. 3. Always keep Stop Loss. 4. Trade in limited quantity. 5. Taking a small loss is better than wiping up your capital. I hope you found this idea helpful. Please like and comment. Share with Your Friends. Keep Learning, Happy & Safe Trading
NSE:IDFCFIRSTBLong
by NikhilChoudhary2023
IDFC FIRST BANKI am posting this idfc first bank chart third time, idfc bank in 4th elliot wave as per bigger time frame chart it will need to form 5th wave. we can see a corrective wave of abc to form 5th wave so I am sharing two cases in this script: - in 1st case if last low doesn't broken it will come around 71.35 then it will go around 95 target - in second case it will go below last low around 69 levels then it will go around 88 levels, it will give breakout of 84 zone Thanks
NSE:IDFCFIRSTB
by THINKLIKEATRADER
MARKET OUTLOOK FOR TUESDAY,APR 24, 2018In what can be termed as a classical consolidation, the Markets failed to sustain at the high point of the day. Very much on expected lines, the higher levels saw some profit taking coming in and the NIFTY pared nearly 50-points from the high point of the day before it ended the session with a modest gain of 20.65 points or 0.20%. If we discount the out-performance of CNX IT Index, which also came off significantly from the high point of the day, NIFTY would have ended with losses. As we enter Tuesday’s trade, we expect such consolidation to continue to persist in the Markets. Though downsides, if any, may be limited, the zones of 10610-10640 will continue to pose good resistance to any up move in the immediate short term. Tuesday will see the levels of 10610 and 10650 acting as immediate resistance area for the Markets. On the downsides, the NIFTY may find support near in the 10540 and 10510 levels. The Relative Strength Index – RSI on the Daily Chart is 63.8164. It has marked a fresh 14-period high once again but remains neutral to the prices showing no divergences. Daily MACD stays bullish while trading above its signal line. A spinning top, indicative of indecisiveness of the Market participants occurred on Candles. Apart from this, no major formations were observed. Pattern analysis shows that despite evident display of buoyant undercurrent, NIFTY has not been able to move past the important pattern resistance area of 10610-10640 zones. This is the upper area of the broad trading range NIFTY had developed over past couple of months. Fresh shorts were also seen being created as the NIFTY’s future shed nearly its entire premium. We expect such consolidation to continue to exist in the immediate short term. We also expect volatility to persist owing to expiry of the current derivative series. There are high probabilities that Markets continue to witness profit taking bouts from higher levels. We reiterate to avoid creating any major shorts. It is further advised to continue to utilize volatility and downsides to make select purchases with any downsides or profit taking bouts that the Markets may offer. While keeping overall positions moderate, cautious view is advised for the day. STOCKS TO WATCH: Fresh shorts were seen being added in IDFC Bank, JSW STEEL, SOUTH BANK, DHFL, ITC, WIPRO, ICICI Bank, STEEL AUTHORITY, DISH TV, ONGC, HDFC, TATA GLOBAL and NCC.
NSE:NIFTY
by Foram_C