IDFC bank short following the trendTaking a short position on IDFC Bank, with a stop loss at 81.65 and a take profit level set at 72.55, reflects a carefully planned trading strategy based on technical analysis and risk management.
The decision to initiate a short position implies a bearish outlook on the stock. Traders employing this strategy anticipate a decline in the stock price and aim to profit from the potential downward movement.
Setting a stop loss at 81.65 is a risk management measure designed to limit potential losses. If the stock were to move against the short position and reach or exceed this level, the position would be automatically closed to prevent further losses. This helps traders control their risk and adhere to predefined risk tolerance levels.
On the other hand, the take profit level at 72.55 indicates a target price where the trader aims to secure profits by covering the short position. This level represents a point where the trader believes the stock will experience a significant decline, providing an opportunity to exit the position with gains.
It's crucial for traders to monitor the market closely for any signs of changing conditions that might impact the stock's movement. Factors such as market news, financial reports, or broader economic indicators can influence the stock's behavior.
Additionally, given the dynamic nature of the market, traders should stay vigilant and be prepared to adjust their strategy based on new information. Regularly reassessing the trade and considering potential adjustments to stop loss or take profit levels is advisable to align with evolving market conditions.
For educational purpose only.
IDFCFIRSTB trade ideas
IDFC First Bank LtdTarget Mentioned in chart - Stoploss @ 68
Fundamentals
Market Cap
₹ 58,644 Cr.
Current Price
₹ 83.0
52W High / Low
₹ 101 / 52.1
Stock P/E
19.4
Book Value
₹ 39.1
Dividend Yield
0.00 %
ROCE
6.59 %
ROE
10.6 %
Face Value
₹ 10.0
Promoter holding
37.4 %
EPS last year
₹ 3.75
EPS latest quarter
₹ 1.04
Debt
₹ 2,01,682 Cr.
Pledged percentage
0.00 %
Net CF
₹ -1,924 Cr.
Price to Cash Flow
16.5
Free Cash Flow
₹ 2,383 Cr.
Debt to equity
7.80
OPM last year
41.3 %
OPM 5Year
42.0 %
Reserves
₹ 19,229 Cr.
Price to book value
2.15
PEG Ratio
0.84
Price to Sales
2.06
Sales growth 3Years
11.8 %
Return on assets
1.16 %
IDFC FIRST BANK S/R for 29/1/24Support and Resistance Levels:
Based on the price action, you have to identify two significant levels: the red line acting as resistance and the green line acting as support. Additionally, there have marked red and green shades to represent resistance and support zones, respectively.
Support: The green line and green shade represent support levels. These levels are where the price tends to find buying interest, preventing it from falling further. Traders can consider these levels as potential buying opportunities.
Resistance: The red line and red shade represent resistance levels. These levels are where the price tends to encounter selling pressure, preventing it from rising further. Traders can consider these levels as potential selling opportunities.
Breakouts: If the price breaks above the resistance zone (red shade) convincingly, it may indicate a bullish breakout, and the price could move higher to the next resistance level. On the other hand, if the price breaks below the support zone (green shade) convincingly, it may indicate a bearish breakout, and the price could move lower to the next support level.
Keltner Channel:
The Keltner Channel is a technical indicator that uses an exponential moving average (EMA) to create an upper and lower channel around the price action. Traders can use this channel to identify potential long and short positions.
Long Position: If the price is above the upper line of the Keltner Channel, it may indicate a potential long opportunity, as it suggests the price is trading above the average range and might continue in an upward trend.
Short Position: If the price is below the lower line of the Keltner Channel, it may indicate a potential short opportunity, as it suggests the price is trading below the average range and might continue in a downward trend.
IDFC First Bank - Ready for Bull RallyAs per technical analysis and chart pattern, this stock is ready for a ride to the moon. All points are mentioned on the chart and you can plan your buy entry here.
Do your own research before entering into buy trade as I am not suggesting you to buy this stock and this is my personal analysis and opinion.
I am not SEBI fregistered
Thanks for your support as always
Swing Trade in IDFC FIRST BANKTechnical Analysis:
In 1Day TF, we can see the contraction with low Volume
In recent days we can see institutional buying once target got hit.
Fundamentals:
Foreign Portfolio Investors 23.32%
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Major Shareholders
dfc Financial Holding Company Limited 37.51%
Odyssey 44 A S 3.83%
President Of India 3.71%
Cloverdell Investment Ltd 2.74%
Goldman Sachs Trust Ii - Goldman Sachs Gqg Partner 1.88%
Icici Prudential Life Insurance Company Limited 1.39%
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Annual 2023 2022 2021
Sales (Cr) 27,194.51 20,394.72 18,221.56
Net Income (Cr) 2,437.13 145.49 452.28
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EPS Growth Rate 16%
Earnings Stability 99
P/E Ratio 19
5-Year P/E Range 16-230
Return on Equity 10%
Cash Flow (INR) 5.44
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Estimates
Idfc First Bank has been covered by 5 analysts in the last 6 months. Their average twelve-month price target is Rs. 94.18, suggesting that the stock has a possible upside of 6.48%. The high price target for Idfc First Bank is Rs. 101.9 and the low price target is Rs. 85. There are currently 1 Buy rating, 3 Hold ratings, 1 Sell rating.
Double Bottom In IDFCFIRST BankDouble bottom pattern was formed in Daily chart of IDFC FIRTS Bank, wait for the the Neckline breakout on closing basis (@above 89.5). upon confirmation of neckline breakout the next possible target's are at 96.
Disclaimer: This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance
IDFCFIRSTBChart looks very positive, it broke major resistance in the monthly chart and retested the support line and moving towards north,
it is a good risk to reward stock, it can be a investment or positional trade call.
wait for the stock to cool down little bit and buy accordingly for big returns vs limited risk.
IDFC first bankThis stock is at all time high. Wait for some good upmove candle or momentum to confirm the uptrend. It may also go sideways or retrace
Most prolly this time it may break and move towards ath
Anyways We will be doing a swing trade if it gives breakout
Entry - 85.60
Sl - 81.80
Tgt - 92
Timeframe - Swing Trade ( 10-15 days )
-- DISCLAIMER --
I am not a financial advisor or SEBI registered.
This is just a view.
Please DO YOUR OWN RESEARCH before investing in any stock.
Happy trading.
Peace.