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IDFC FIRST BANK - BREAKOUT / BREAKDOWNYou guys are smart if you really know how to trade this Pattern ! A rectangle chart pattern forms during a period of consolidation, where the price moves between parallel support and resistance levels. This pattern indicates indecision in the market, with buyers and sellers in equilibrium. The price bounces between these horizontal levels multiple times, creating a rectangular shape. Traders look for a breakout from this range to signal the next move. A bullish breakout occurs above the resistance, while a bearish breakout happens below the support. Volume typically decreases during the formation and spikes during the breakout, confirming the pattern’s validity. Clear Accumulation/Distribution Happening, pay attention even if you dont want to trade it's fine !
NSE:IDFCFIRSTB
by piyushbafna000
idfc first bank bullish shark long termBank is following the shark harmonic pattern in monthly time frame. Trend line breakout was seen at 35 rupees which was best to enter the stock . Now the target point according to shark can be either .886 to 1.13 range which completes at point D as we see in all other harmonic patterns . Now, B to D(1.618) must be near to point D as much as possible. So, we used point D at 1.13 not .886 . According to this pattern our potential reversal zone range is 83.35-89.90. Maintain stop loss of 55.60 on candle close basis, use one day candle for this. Please share & like the idea if you liked the work and support it. good luck
NSE:IDFCFIRSTBLong
by UnknownUnicorn22711483
5
IDFC first bank inverted head & shoulder view- first breakout failed at the range of 82 - 2nd breakout failed at the range of 70 - crossed below the parallel channel midline (range 70) - Oct monthly candle already touched pivot S1 due to market correction. - In case monthly pivot S1 does not support. This fall might continue important zone for accumulation / fib golden ratio 61.80 / range below 59-50 I don't recommend taking trade based on this idea. consult your SEBI registered adviser to Know the market risk before trade. in.tradingview.com/pricing/?share_your_love=johnbritto2088
NSE:IDFCFIRSTBShort
by johnjen2088
IDFCFIRSTB on Weekly Chart- Elliott Waves - LongIDFC First Bank has completed one Elliot Wave cycle with an impulse wave 1-2-3-4-5, starting from INR 18.5 and ending at INR 69.25, and a corrective zig-zag wave A-B-C, ending at INR 40.7. This cycle is a formation of a bigger wave, wave 1 & 2 (which is not marked in the chart). If the analysis holds true, wave 3 has started. Trading guidelines: 1) Aggressive Trade (arrows shown): -Entry when the extreme of wave 4 of corrective wave C is broken, i.e INR 52.5 -Stop loss at the end of wave C, i.e INR 40.7 -First Target close to INR 62. This is because there wave B ended and also, there seems to be a strong resistance (conformed by standard pivot point & also on monthly chart) -Second Target close to INR 75. This calculated on the basis of getting a reward-risk ratio of close to 2:1. 2) Conservative Trade (arrows not shown): -Entry when start of wave B is crossed, ie close to INR 62. -Stop loss at the end of wave C, i.e INR 40.7. -Target close to INR 106. This calculated on the basis of getting a reward-risk ratio of close to 2:1. Extra: On checking for fib relationship between bigger wave 1 & 2, wave 2 was expected to reach INR 39.7 (0.618 retracement). However, it reached INR 40.7 as the low, which is close to 0.563 retracement.
NSE:IDFCFIRSTBLong
by divijshah19