IDFC FIRST BANK has broken out of trading range on One Month Time frame Chart. Break-out after 6 Years trading in a channel! Those who are holding can consider offloading 30 to 50 percent holdings to realize profit and hold the remaining to ride the up move!! Looking for exponential move on up side if this break-out sustains!!!
This stock had broken out of Weekly and Monthly trading channels and has bee trading higher. This stock is going to go higher and higher. Only thing to worry about is Volume. Volumes are coming down. Implication of falling Volumes can be Profit Booking in a Shorter Time Frame. Conclusion: Bullish on Long term & Bearish on Short Term!
Volume Profile indicates a trading range 110 - 124 for now!
On Weekly and Daily Charts, the stock is trading within a parallel channel. 145.5 is very near!!
Look at the Chart and look at the Expiry Day movement (Two way Chop Chop)!
Next looking for 1050-1200/ 1265-1312/ 1496-1534 in 3-4 months! No wonder even if we reach there by Dec 14/Jan 6 !!