IDFC’s daily trend is bullish to sideways. The RSI for weekly and daily are showing sideways momentum, however, the RSI for the monthly is showing bullish momentum. Based on option chain analysis, the range is between 115 and 120. Let’s plan a trade around this.
The stock witnessed a strong bounce back after hitting a 52-week low of Rs 56.85 on 2nd August 2022. The stock closed at Rs 120 on 1st August 2023 which translates into an upside of 111% in the same period.
Day trading guide: Short term trend of Bank Nifty continues to be positive and one may expect banking sector to move up towards 40,800 levels in the short term, say experts