IDFCFIRSTB trade ideas
IDFC First Bank - Rounding Bottoms into Triangle Breakout IDFC First Bank has been in a long period of consolidation that has formed a triangle.
Over the past few weeks, such consolidation period can be seen to round off into two smaller bottoms, forming higher lows.
200 EMA support is pushing the stock into a triangle breakout now, which looks good to achieve the charted targets over the next few weeks.
IDFC First Bank - Trade setupBullish trade
Stock is currently in downtrend
Rounding bottom formation in daily chart, neckline breaks at 51.40 that indicates trend reversal
Go long after this neckline breaks, keep a SL of 45.50 below on closing basis
Pattern will have potential to touch previous swing high that was 61-62