 "The stock of IDFC First Bank has maintained a decent base near 54 levels in recent times")
BUY MAH & MAH FINANCE | CMP: Rs 160 | TARGET: Rs 180-195 | STOP LOSS: Rs 150
The stock has indicated a "double bottom formation" pattern near 150 levels, forming a good support base, and has slowly picked up momentum to improve the bias. Currently, a positive move above the 200DMA level of 163 would further strengthen the bias and, with the RSI also indicating a trend reversal, the chart looks attractive. We suggest to buy this stock for an upside target of 180-195 keeping the stop loss of 150.
BUY IDFC FIRST BANK | CMP: Rs 57.25 | TARGET: Rs 65-70 | STOP LOSS: Rs 52
The stock has maintained a decent base near 54 levels in recent times and also has maintained above the significant 50EMA level of 55 to signify a good consolidation phase. It is also currently indicating a positive candle to improve the bias. The RSI also has shown a trend reversal to signal a buy and is showing strength in the stock for further upside move in the coming days. We suggest to buy and accumulate the stock for an upside target of 65-70 keeping the stop loss of 52.
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Disclaimer: The author is a technical analyst with Prabhudas Lilladher. She may have positions in one or more stocks mentioned above. Views are personal.
