IDFC FIRST BANK : Monthly Breakout
Aggiornato
In monthly chart, falling wedge breakout and further analysed in multiple time frame and parameter as mentioned below:
Parallel Channel: 2D: The movement of price was downward channel, with defined resistance (red arrow) and support (green arrow). The stock breakout from its range and subsequent buy observed.
EMA, Volume and Bullish Candle: 1D: The crossover of EMA 20 & EMA 50 with significate rise in volume was the entry point and second entry was at bullish engulfing candle.
Disclaimer : The chart analysed for educational purpose only.
Thanks
-AJ
Parallel Channel: 2D: The movement of price was downward channel, with defined resistance (red arrow) and support (green arrow). The stock breakout from its range and subsequent buy observed.
EMA, Volume and Bullish Candle: 1D: The crossover of EMA 20 & EMA 50 with significate rise in volume was the entry point and second entry was at bullish engulfing candle.
Disclaimer : The chart analysed for educational purpose only.
Thanks
-AJ
Nota
Breakout with bullish candle and solid volume.Price above all key moving average.
Thanks
-AJ
Nota
support & resistanceNota
resistance breakoutNota
Volume Breakout !!Nota
stop loss Rs 78.40
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