IDFC stock daily chart analysis
IDFC stock on last trading session closed at 116.6 with loss. On daily chart, stock price trend is bullish but momentum is weak as profit booking hit the stock after banking license news. From short term view, above 110-rupee traders must keep buy on dips. On daily chart, IDFC support zones are 114 and 110. While on upside 121 and 127 are strong resistances. On indicators, MACD is below zero with bearish divergence. RSI is 34 and with bearish divergence while CCI is -34 and heading towards -100 zone.
Daily chart signals are bearish but 110 is major support and if stock gives reversal signal near it then must go long for May series and expect targets of 121 and then 127.
IDFC stock weekly chart analysis
IDFC stock this week is trading with loss. This will be forth losing week for stock and in these four weeks, IDFC tumbled from high of 139 to 116. On weekly chart, stock price trend is bullish but momentum is now weak on profit booking pressure. On weekly chart, 105 and 84 are strong support zones while on upside 127 and 149 are strong resistances. Weekly chart indicators, MACD is above zero with bullish divergence. RSI is heading towards 50 with bearish divergence and CCI is +48 and heading towards zero.
From medium term view, above 105 traders and investors must keep long view and use these correction to go long. On upside 127 and then 149 are targets for next 4 to 8 months period.
IDFC stock monthly chart analysis
IDFC stock in last 6 month had given 12% return to investors and performing inline with major indices. Fundamentally and by valuation view, IDFC is one of the favorite stock from my list and must be in everyone portfolio with long-term view. On monthly chart, stock showing deep cut in month of April. From long-term view, 95-105 is major support zone and above it expect momentum will remain in hands on bulls. On downside, 60-80 rupee is best buy zone and recently stock touched it and formed bottom on chart. 30-50 rupee is undervalued zone and this was last seen in 2008 crash. Investors on upside expect targets of 150 rupee in next 12 months while 190-225 is target zone for next 2 to 3 years period.
IDFC company description
IDFC Limited is an India-based company engaged in financing by way of loans, asset management and investment banking and institutional broking. It is engaged in financing infrastructure projects in sectors like energy, telecommunication, transportation, commercial and industrial projects, including hospitals, education, tourism and hotels. The different Strategic Business Units (SBUs) are structured into four platforms: Project Finance, Fixed Income and Treasury, Investment Banking and Broking, Alternative Asset Management and Public Markets Asset Management. It also does Policy Research and Advocacy, Capacity Building, Program support and Government advisory services and community engagement programs. Investment banking business consists of advisory/capital raising services and institutional broking. Alternative Asset Management business includes the private equity, project equity and Real Estate.
IDFC stock fundamental ratios
|Range||116.00 – 120.50|
|52 week||76.10 – 165.45|