IDFC First Bank is near its all time high and has show some strength when compared to other banking stocks. That said, it is at a crucial zone, and may go sideways or retrace a bit before breaking out of the ATH zone. But once it does, chances are it will gain strong momentum and keep going for some time as there is no obvious resistance zone! That is, it is still very important that we keep a tight Stoploss and then trail our profits using ATR, moving averages or any such trend following indicator.
Comment:
Breakout has happened and the previous resistance might act as a support now, probably a good time to take a trade, good risk to reward ratio kinda situation
Comment:
Price is near the zone where it had a nice breakout a few months ago. Now, if it forms a bullish pattern above 80, it would be a great time to get aggressively bullish
Trade active:
Price is still trading around the support zone and is consolidating in a very tight range.