Please look into the chart for a detailed understanding.
Consider these for short-term & swing trades with 2% profit.
For BTST trades consider booking
target for 1%-2%
For long-term trades look out for resistance drawn above closing.
Please consider these ideas for educational purpose
Please note that, if there are some big targets, those are drawn thinking...
IFBIND
1) Time Frame - Weekly.
2) The Stock has been consolidating in a downtrend channel since 2021 & Now It has given a 3 years Downtrend breakout with huge volume & strong bullish candle close in weekly.
3) The next target / resistance would be its previous life time high (1546.95 - 24.5% from the current price 1241.95).
4) Recommendation - Strong Buy
Purely technical view for educational purposes only
IFB is one of the leading brands of electrical appliances.
Stock has given Cup & handle breakout with volumes.
Good stock for positional targets of 1330, 1480.
SL is below 850 WCB.
Try to accumlate in range of 960-980 for better risk reward ratio.
Breakout reason is company has declared good Q2 2024 results.
Date : 31-03-2024
Buy IFBIND @ CMP
Target of 1549-1605-1721-1894
SL 1301
Strategy : SBO + RSI > 60 + EMA above 20 & 50
Duration few weeks
Please consult your financial advisor before investing
All research for educational purposes only.
Stock is ready to cross past barriers with good volumes
Volume buildup in daily and weekly timeframe in past few days.
Presently on all time high, if closes candle above the 6year old or all-time high than can give good reward.
NOTE: i do my analysis, do your before trade.
One can watch for reversal from the marked levels..
we are on the weekly time frame so patience is a must!
above this marked all-time high level, once broken, it will touch 2000 level & even more.
Thanks
Weekly charts for this week should be interesting. 3 working days vs 6 working days last week vs normal 5 working days.
Starting with #IFBindustries which has broken out of channel, interesting and worth keeping eye on.
good Gudiance was given by management last quarter in earnings call. Worth keeping eye on
IFBIND - Weekly breakout with huge volumes after 3 years! Great price action with good upside potential. Waiting for a good dip to buy would give a nice 1:2 Risk reward.
IFB Industries- 0.618 retracement done on monthly long back. For the past 2 years, its undergoing a big flag pattern. So will explode once it breaks up. The point to be noted is, even if it breaks up in daily, wait for the weekly candle close atleast for safe trade. If not keep the stop loss as the candle close within the channel after breaks up. Paisa double...
