IDFC CMP 49
TARGET 35
STOP 59
Monthly Chart:
1) Series of LHs and LLs reflects a bearish big picture on this stock.
Weekly Chart :
1) Stock has breached 200 period ema at around 55-57 and post consolidation for several weeks has breached previous swing low at 50.
Daily Chart :
1) Stock has breached 200 day ema at around 54 and had formed a bearish triangular pattern before breaking towards 49.
2) Stock could retrace back to 50-51 levels on account of some shorts getting covered, which could be the ideal level to go short in this stock.
All levels spot. Please adjust for futures.
Monthly chart displayed. Weekly and daily chart can be verified for the above commentary.
TARGET 35
STOP 59
Monthly Chart:
1) Series of LHs and LLs reflects a bearish big picture on this stock.
Weekly Chart :
1) Stock has breached 200 period ema at around 55-57 and post consolidation for several weeks has breached previous swing low at 50.
Daily Chart :
1) Stock has breached 200 day ema at around 54 and had formed a bearish triangular pattern before breaking towards 49.
2) Stock could retrace back to 50-51 levels on account of some shorts getting covered, which could be the ideal level to go short in this stock.
All levels spot. Please adjust for futures.
Monthly chart displayed. Weekly and daily chart can be verified for the above commentary.
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