IIFL trade ideas
IIFLTremendous volume in the last few days. The last close was at the resistance. Close above 72 on a 75 min scale should indicate a move to the next levels. Divergence with RSI also indicates a potential upside.
SWING CALL (SWING CALL)
Buy above 748 / Stop @ 733
TG1 @ 757
TG2 @ 769
Risk/Reward :
for TG1 = 1.667 (Not worth it but safe bet)
for TG2 = 0.71 (Totally Worth it)
Positional Buy Set up: IIFL HoldingsBuy IIFL Holdings at 697.80
For targets of 740-775 in the near term
Buy IIFL with short term target of 830NSE:IIFL
The stock tested highs of 874 and since then has been under a corrective retracement. It has tested 100-DMA levels twice and is seen taking support and bouncing back from this significant support area. A buy signal has emerged over Stochastic on the Daily Charts. RSI is seen forming a higher bottom and is seen inching higher showing a bullish divergence against the price. On the Candles, a candle with a long lower shadow emerged near the support are of 20-WMA. Some pullback and upward revision in prices cannot be ruled out.
LONG on IIFLPrice took support on a trendline which has proven to be a good support level in the past. We can also see a breakout of a previous resistance level. Nice Place to go long.
IIFL HoldingsHammer pattern observed..sign of trend reversal
BUY above hammer close or above 606 SL 587 and Trgt 700
