IDFC trade ideas
IDEA ready for breakoutNSE:IDFC
Trend line breached, ready to launch if it doesn't break 53.3 mark. can expect to rise till 64 by end of april
IDFC LONG : Descending Channel Breakout IDFC price was moving and forming the descending channel. It has broken the channel thus offering a long trade with small stop loss and good risk to reward ratio. Price can easily climb till the previous range doubling area. I would provide Stop loss some ticks below of last bar on closing basis and look for a target of 58.8. RSI reading of 60, coming out of oversold area is confirming the idea of a long trade.
IDFC BreakoutIDFC has broken down trend line, going back to late October 2016. Fundamentally as well I think stock is great value buy as most India growth story stocks have gone up this is the only one which has not performed compared to others. I think stock can go till 60 very soon.
Sentimental RSI has also turned positive on daily chart suggesting new uptrend is starting.
IDFC WEEKLY OUT SIDE BAR TGT 61.5IDFC has formed weekly out side bar and given uptrend and retrace up to 61%
buy this with tgt of 61.5 (200ema)
enjoy
Channel InsideDay The Stock is in downtrend and formed a down sloping channel. Inside Day after the upper line touch may be significant and reverse the short term up move. If it starts trading below the low made on 30.12.16 I would short with stop loss of 54.75.
