Price is continuously falling,
facing the resistance from the trendline as well.
A drop is detected in the stock from 90 levels,
now price is in consolidation, we have a drop base drop indicating a potential bearishness in this stock.
Indicating a support at 75-72 levels zone.
back to back demand zones is lies below this support levels, keep in long side...
IdfIdfc NSE:IDFC
Shorting on daily timeframe.
Risk to reward ratio: 5.2
Never trade a short without a stoploss.
*Not a financial advice.
My charts speaks louder than words.
I'm a chartist and I paint charts.
My positional view on IDFC LTD
NSE:IDFC
After a long bull run, IDFC can correct up to 61.50 and 57.10. This could be best level to go for long again.
My target will be level of 77.70
Stop loss will be 52
Note: This is my personal analysis, only for learners.
After a long time day candle has closed above the 50 DMA. Sentimental RSI indicator is also green .This looks bullish set up. I would keep a stoploss near 39.50 - 40. My near term target would be 50.
Happy Trading and Investing!!!
