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
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BSE:IDFC
