IDFC - readying for a move!

IDFC has been consolidating in the range of Rs 90 and 110 for a long time and in the process it has also given multiple positive divergences on the RSI. MACD signal line too is in buy mode and nearing zero line.



The recent price movement is giving indications of a rounding pattern.

The break out is at 112 for a target of Rs 137-140 while Rs 99 remains a crucial support once break out occurs.

Investors may buy partially at current levels of Rs 105-107 and add on break out.

{The blog will undergo a MAJOR change in a couple of days. Till that time, there may be some delays/hiccups}

Happy Trading

CA Rajiv D Khatlawala