August 14, 2015
IDFC (NSE Cash)
BUY
` 138
` 144 - 143
` 154
14 - 21 sessions
Daily Chart
Source: Falcon (Chart Time: 13:40 IST)
Justification:
The higher degree charts indicates that the stock is in a broader uptrend. On daily charts, prices
have formed a ‘Head & Shoulders’ pattern. Although the pattern is a trend reversal pattern, failure
of the same could lead to resumption of the uptrend. Post giving breakdown from the neckline
yesterday, prices have regained strength and are indicating failure of the pattern. Thus, we believe
the stock would resume the uptrend and hence, we advise traders to buy this stock from current
level to a decline up to ` 143 for a target of ` 154 in coming 14 to 21 trading sessions. The stop loss
for this trade set up can be kept at ` 138.
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August 14, 2015
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Source: Angel Research
Research Team Tel: 022 - 30940000(Extn: 6552) Website: www.angelbroking.com Email: [email protected]
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