It has been observed that the price action is trending upside with short correction after every upward move. Now, the current short correction seems to be over with the current breakout.
T1- 64
T2- 66
SL- 60
Once the support line is breaken down,support is converted as resistance and we may go for shortsell as they will be strong patter breakdown.
Depending on tomorrow market movement take the decision.
It is been observed on the daily chart that the price action firstly breaks the resistance zone and now taken support on it. Now, it shall further move up from the current levels to continue the previous uptrend. The price action is at low risk, high reward situation.
Target 1: 62
Target 2: 65
Stoploss: 58
IDFC Limited is a holding company. The Company is a non-banking finance company, which is engaged in investing business. Its segments include Financing, which includes Banking Business, and Others, which includes asset management, investment banking and institutional broking. The Company is involved in holding investment in IDFC Financial Holding Company Limited, which in turn, holds investments in IDFC Bank Limited (IDFC Bank), IDFC Alternatives Limited, IDFC Asset Management Company Limited, IDFC Securities Limited and IDFC Infra Debt Fund Limited. The Company, through its subsidiaries, is engaged in businesses, including Banking business, Public Markets Asset Management, Institutional Broking, Infrastructure Debt Fund and Alternative Asset Management. IDFC Bank's businesses are split into three parts: Commercial & Wholesale Banking, Bharat Banking and Consumer Banking. Its Commercial Banking business comprises the Middle Market Group, and the Small & Medium Enterprises Group.
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