Technical Analysis of Indian Equities by Nooresh

IDFC …….investment bet for medium term /long term.

IDFC one of the stocks which tried to sustain the Jan blows but now cracking after the infra pack. Also was a favourite of market players even after Jan. Fundamentally one of the excellent stocks to stay for a very long period of time .
Technically it is close to 61% fibo retracment since being listed . Such a level is generally good for investors to take a good exposure for long term. Also with a trendline support around 110 if sustains could give a quicker bounce to 135-145 levels in a bounce back of indices.
Strictly a recommendation for medium term for investors with patience who would like to add more on dips if they come. May bounce in near term traders could keep a stop below 104 would prefer investing in it then trading though.
Best Regards,

Article by Nooresh Merani

Nooresh has written 2801 articles.

You can follow Nooresh Tech on Facebook and Twitter here.

{ 0 comments… add one }

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.