IFCI was facing stiff resistance and was trading in a broadening channel since 2021. It made a decisive close above that channel in sept 2023 and retraced. Currently its trying to bounce from the same resistance level. Buy above 25 with a stop below 22 and targets of 33 in coming few weeks.
Greetings Folks, today i have prepared a setup of IFCI on NSE the analysis is as follows - the price had a good breakout - i am looking for a deeper retracement than usual - the zone i have marked is very important support - if this zone breaks, the uptrend likely wont continue dont play with fire, always use a predefined stoploss
Stock has closed above 50DMA today at 16.53. Such breakouts in November 2017 and July 2017 resulted in a big upmove... Trade : Buy IFCI at CMP SL below 10DMA at 15.90 Target towards 100DMA of 18.25 and 200DMA at 20.60 Can be achieved in August - September series. Disclosure: For educational purposes.
To me it looks good, because the SL is only a few Bucks and I can take the hit if it goes wrong. I'm looking at a 2-3 week wait period.. SL is a must