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IDFC FIRST BANK LIMITEDIDFC FIRST BANK LIMITEDIDFC FIRST BANK LIMITED

IDFC FIRST BANK LIMITED

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IDFCFIRSTB trade ideas

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
IDFCFIRST breakout with volumeslogics behind the trade. 1. Stock has given breakout of 51.55 with good volumes in daily Time frame 2. Result declare on 29 oct. this are my 2 reasons to take the trade as per my risk management my SL will me any colsing below 49.50 in Daily time frame. All breakouts and targets are mentioned on the chart. Do follow me for more such chart analsis if you like my work do like and cheer up. Also, comments your views on this. all the above analysis are as per my own observation and risk ape-tide , you may have any different views & observation, do your own study before taking the trade. trade on your own risk, analysis is just for educational purpose. Thank you.
NSE:IDFCFIRSTBLong
by yugant_14