IDFC Bank CMP 68
Fib - the retracement to 38.2% is weakness. Can it go higher??
Candlestick - Four small candlesticks in a row around the resistance is indicating reversal.
Trendline - this further cements the zone as a strong resistance.
RSI - the rally has brought the RSI to the bear zone. This is telling me the fall is not yet over.
Composite - the oscillator has given -ve divergence confirming the reversal.
Conclusion - the rally is over. And now the TIME has come for this counter to correct. My first tgt is back to the base at 52.
Fib - the retracement to 38.2% is weakness. Can it go higher??
Candlestick - Four small candlesticks in a row around the resistance is indicating reversal.
Trendline - this further cements the zone as a strong resistance.
RSI - the rally has brought the RSI to the bear zone. This is telling me the fall is not yet over.
Composite - the oscillator has given -ve divergence confirming the reversal.
Conclusion - the rally is over. And now the TIME has come for this counter to correct. My first tgt is back to the base at 52.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.