Hi Guys, It looks like IDFC FIRST has given a breakout from a Falling wedge, everyone will thought that it will directly hit Rs 100, but it will be not like what others think. There is a resistance on 89-90 Which might become the reason that IDFC will again trade around Rs 80.
What a person who bought around 85 can do..? He can hold and wait till it breaks Rs 90 my personal view is to HOLD & ADD more shares on pull back.(not any recommendations). The reason is (1) Break out from falling wedge (2) the high chances of golden cross becoz price is above 50MA and about to break 200MA so 50MA will move upward and cut 200MA.
What a person who bought around 85 can do..? He can hold and wait till it breaks Rs 90 my personal view is to HOLD & ADD more shares on pull back.(not any recommendations). The reason is (1) Break out from falling wedge (2) the high chances of golden cross becoz price is above 50MA and about to break 200MA so 50MA will move upward and cut 200MA.