September 10, 2014
IDFC (NSE Cash)
146 - 144
Source: Falcon (Chart time - IST 12.20)
The stock is undergoing a ‘Time-wise’ correction since last 8 weeks, which was evident after witnessing a sharp rally of nearly
20% during the month of July 2014. In last few trading sessions, the stock prices have stalled slightly above the daily ’89
EMA’. During the session, we are observing a sharp movement on the upside along with the sizable intraday volumes,
making the daily chart quite encouraging. A closing above the
146 mark would confirm a breakout from the ‘Downward
Sloping Trend Line’ on the daily chart (please refer the exhibit). Moreover, the momentum oscillators on the daily chart are
now signaling a positive crossover, indicating possibility of a near term up move.
Considering these evidences and the hourly
chart structure, we advise traders to buy this stock from current level to a decline up to
144 for a target of
157 in coming
2 - 3 weeks. The stop loss for this trade set up can be kept at
September 10, 2014
Last 8 recommendations
167 - 165
Revised SL @ 171
1019 - 1010
411 - 407
Exited @ 416
856 - 848
174.50 - 172
Booked @ 183
368 - 365
Booked @ 377
261 - 256
355 - 351
Source: Angel Research
Research Team Tel: 022 - 30940000 (Extn: 6552) Website:
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