Tuesday, February 25, 2014

IDFC The Banking license hype

Hi friends,
                   Looking at IDFC the front runner for Banking license.
Lets look at the chart does it show something exciting ?
Below is the daily chart of IDFC.
IDFC The Banking license hype
The chart suggests the
stock is near to the
slanting trendline
resistance and nothing
extraordinary in volumes
Let me pul out one
more chart of lower
timeframe to get a
better look at the
present structure.

IDFC The Banking license hype
From the hourly chart
we can see a small
triangle in formation
and right now we
are in e wave down
The support lies at
lower trendline ie 93.80
and breakout resistance
at 98.90.
Ideal trade would be to
buy as near possible to

the support of 93.80 stoploss of 92.80 above 98.90 this can go towards 106+.
On downside below 92.80 the stock gets weak.


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