IDFC FIRST BANK : Monthly Breakout

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In monthly chart, falling wedge breakout and further analysed in multiple time frame and parameter as mentioned below:

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Parallel Channel: 2D: The movement of price was downward channel, with defined resistance (red arrow) and support (green arrow). The stock breakout from its range and subsequent buy observed.

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EMA, Volume and Bullish Candle: 1D: The crossover of EMA 20 & EMA 50 with significate rise in volume was the entry point and second entry was at bullish engulfing candle.

Disclaimer : The chart analysed for educational purpose only.

Thanks
-AJ
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Breakout with bullish candle and solid volume.

Price above all key moving average.

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Thanks
-AJ
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support & resistance

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resistance breakout

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Volume Breakout !!

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stop loss Rs 78.40
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