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
INTRADAY BUY IFCI AT CMP 14.50 TO 14.55 TGT 15.55 SL 13.80
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