IDFC .. near break out!

The Nifty gave a strong move today after a so many days of slumber! .. Imagine - even Reliance giving traders a 3% jump in intraday !! I think it was quite a good time for intraday traders today

IDFC is one stock which is good not only technically but also fundamentally ..



Talking of its technicals, I presume that a break above Rs 168 should trigger move buying (especially from institutions) and an immediate target of Rs 182 is likely in coming days .. Keep a stoploss near Rs 160 ...

I presume that a close beyond Rs 182 should be further positive for the stock.

A lot of midcaps have given buy signals (and this we are actually going to discuss in our ITG group today ) I may not be sure if the Nifty movement of today will continue tomorrow , but the midcaps are surely preparing for a good move!

Happy trading !!

CA Rajiv D Khatlawala
ValueTrade Academy
www.investogyan.com