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IDFC FIRST BANK LTDIDFC FIRST BANK LTDIDFC FIRST BANK LTD

IDFC FIRST BANK LTD

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IDFCFIRSTB trade ideas

IDFCFIRSTB : Poised for a Wave C Reversal or Deeper Dive?1. Key Analysis and Levels Wave C Completion Zone (₹63-61): Based on Elliott Wave analysis, this marks the end of the corrective phase (Wave C). This range aligns with a high-probability demand zone, where buyers typically enter aggressively. Liquidity and Consolidation Zone (₹61-67): Current price behavior indicates consolidation, suggesting accumulation by buyers or preparation for a reversal. First Target Zone (₹78-80): Represents the extended retracement of Intermediate Wave B, a logical zone for profit-taking. Second Target Zone (₹86-88): A deeper retracement of the Primary Wave B, achievable if bullish momentum sustains beyond the first target zone. 2. Trade Setup A. Long Trade Setup: Why Long? The price appears to have found support in the Wave C completion zone with signs of consolidation, signaling a potential reversal. Elliott Wave theory suggests the next leg (Wave 1 or Wave A) to the upside. Entry: Around ₹64, after a confirmed breakout from consolidation or bullish candlestick patterns (e.g., hammer or engulfing). Stop Loss: Below ₹61 to account for demand zone failure. Targets: ₹78-80: First resistance level at the extended retracement of Wave B (Intermediate). ₹86-88: Next significant resistance zone based on Primary Wave B retracement. B. Short Trade Setup (If Demand Fails): Why Short? A breakdown below ₹61 indicates that the Wave C completion zone is breached, suggesting continuation of the downtrend. This breakdown could trigger a deeper decline toward the next structural support levels. Entry: Below ₹61 after confirmation of breakdown with volume. Targets: ₹58: Immediate support zone. ₹52-55: Deeper structural demand area. Stop Loss: Above ₹65 to avoid being caught in a false breakdown. 3. Explanation of Analysis Wave C Completion: In Elliott Wave theory, Wave C often marks the end of a corrective phase, making it a high-probability entry point for reversals. Liquidity Zone (₹61-67): Current consolidation reflects market participants accumulating positions, often seen before a major price move. Risk-Reward Dynamics: The defined stop loss and target zones provide favorable risk-to-reward ratios, making the trade setups attractive. 4. Confirmation Signals For Long Entry: Bullish price action in the ₹63-64 range with rising volume. A breakout above ₹67 signals momentum shift to the upside. For Short Entry: A strong daily close below ₹61, accompanied by high volume and bearish sentiment. 5. Risk Management Risk should be limited to 1-2% of your portfolio per trade, adhering strictly to stop loss levels. Consider scaling out at the first target zone to lock in partial profits while trailing stop loss to protect gains. Why This Plan Works This trading plan integrates Elliott Wave theory, demand zone dynamics, and logical retracement levels to structure trades with both upside potential (if reversal occurs) and downside readiness (if support fails).
NSE:IDFCFIRSTBLong
by LiveTradingBox
2
Identifying Breakout in IDFC First BankAs of 15th September,2023 the stock is currently at Rs 94.55 - Rs 95 levels with potential breakout possibilities due to macroeconomics and other reasons. The stock seems to be in buy zone around the price range 95 to 100,102. With a strong resistance around the price of 85 - 86 levels which can be considered as an avg down opportunity. Also, another resistance can be formed at the price level of 75 - 76 which can be treated as a Stoploss. Breakout possibility can occur once the stock surpasses the channel of 105 - 110 price range. With First Target around 125 - 127 price levels and Second Target around 130 - 145 price levels. In a time frame of 3 to 6 months. Caution: This is not a stock trading Advice or Tip, it's just for learning purposes I am not a professional trader or a SEBI registered advisor. Please don't consider this as an advice and make your own analysis before investing. Thankyou!
NSE:IDFCFIRSTB
by jagarsoshi
3
Swing and positional trade in IDFC first bankIDFC First Bank Ltd. engages in the provision of financial and banking solutions. It operates through the following segments: Treasury, Corporate and Wholesale Banking, Retail Banking, Other Banking Business, and Unallocated. We had recommended this stock earlier near 50-55 zone before breakout and from there it has become double. This stock has rosen 300% last year and after making a high of 100.70 it is taking pullback. From all time high, this stock has been corrected 40% as per the long wave and currently trading at the golden zone of 61% for the short wave. On monthly chart, selling seems to be cooling down but no clear sign of buying is observed. On weekly timeframe, it has shown some bullishness near 72rs and created SCOB which seems to be followed in the daily time frame. On daily timeframe, price has taken liquidity of previous swing and is also following the FVG created around 71.50. Agressive buyers can take entry at 74.50 with SL of 70rs. Otherwise, wait for price to close above 76rs to take safe entry. Targets are mentioned on the chart. This is pure technical analysis and not a buy/sell recommendation. Please refer your financial adviser before putting your money in stock market. Always follow the risk management, it is key to be a successful person in stock market. In case of any doubt, or want analysis of any stock, please drop a comment or DM me. Happy trading :)
NSE:IDFCFIRSTBLong
by ProPriceActionTrading
Technical Analysis of IDFC First Bank Ltd (IDFCFIRSTB)Technical Analysis of IDFC First Bank Ltd (IDFCFIRSTB) Key Observations from the Chart Price Action: The stock price appears to be consolidating after a recent uptrend. There is a potential support level at around 74.43 and a resistance level near 75.54. Moving Averages: The 200-day EMA (Exponential Moving Average) is above the current price, suggesting a potential bearish bias. However, a break above this EMA could signal a bullish trend reversal. Fibonacci Retracement Levels: The price is currently near the 0.236 Fibonacci retracement level, which could provide support. A break below this level could indicate further downside. Relative Strength Index (RSI): The RSI is around 50, indicating a neutral market sentiment. A reading below 30 could suggest oversold conditions, while a reading above 70 could indicate overbought conditions. Potential Trading Strategies 1. Range Trading: Given the current consolidation, a range trading strategy could be considered. Buy near the support level (around 74.43) and sell near the resistance level (around 75.54). 2. Breakout Strategy: If the price breaks above the 200-day EMA or the resistance level, a bullish breakout could occur. A buy order could be placed above the breakout level. 3. Pullback Strategy: If the price pulls back to the 0.236 Fibonacci retracement level or the support level, a potential buying opportunity could arise. Additional Considerations Fundamental Analysis: While technical analysis provides insights into price movements, it's essential to consider fundamental factors such as the bank's financial health, industry trends, and economic conditions. Risk Management: Always implement risk management strategies, such as stop-loss orders, to protect your capital. Note: This analysis is based on the information available in the chart. Market conditions can change rapidly, and it's crucial to stay updated with the latest news and developments. Disclaimer: This analysis is based on the Technical Analysis of the stock chart and is for informational purposes only. It does not constitute financial advice. Always consult with a financial advisor before making investment decisions. I am not SEBI registered person and this is my personal opinion about the stock. Do your own research. We are not responsible for your loss. Thanks for your support as always
NSE:IDFCFIRSTBLong
by ForexTrader4all
3
IDFC First Bank Elliot Wave AnalysisElliot first wave: Starting point 17.65 Endpoint 69.30 Elliot second wave: Starting point 69.30 Endpoint 28.95 Retraced 78.9% Elliot third wave: Starting point 69.30 Endpoint 94.60 Projected 1.27% Elliot fourth wave: Starting point 94.60 Endpoint Not yet formed Usually, the 4th wave should retrace 38.2% and continue with an upward trend. If you check closely the RSI on the weekly timeframe, it does not decline compared to the price. This price is a sign of bullishness. One can trade for risk a reward ratio of more than 4.
NSE:IDFCFIRSTBLong
by vikasbhekare