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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

IDFC First Bank - Running towards 42IDFC First Bank has seen more than a 50 % fall in March. Even though the bank is reporting losses/minute profits, the bank looks fundamentally strong since it is in process of increasing its loan value and other related measures as mentioned in its previous year's annual report. Keeping fundamentals apart, Bank has seen a rally along with the stock market even though not at par, was bullish till Sept and was seen consolidation till Nov and then again saw a price increase. Bank has seen reverse hammer stopping bearisg pattern every time as highlighted above. Recently the bank has crossed a multi-period trend breakout and closed today at 38.60. It looks bullish on the chart with the next resistance at around 42 levels. This should be construed only for educational purposes alone and should not be taken as a suggestion for buy/sell.
NSE:IDFCFIRSTBEducation
by pavankalyanpvenkata
#IDFCFIRST Entered this gem at Rs 52 couple of years back, when I was a new entrant in stock markets. But having met and read about Mr Vaidyanathan, I had strong conviction about this bank and it has not dwindled even 1 bit. I averaged it heavily to bring my cost price to under 30. Now this is at a very crucial level from the technical standpoint and a long term entry can be taken now and when it breaches the above downward sloping trendline. I have strong conviction of this becoming a multibagger in next 10 years.
NSE:IDFCFIRSTBLong
by Stock_Select