CMP : 93.10
Yesterday there is a huge play from IDFC in testing the support 200min MA and likely broken
today and if it this resistance remain broken then we can expect one more hard knock
from this counter.
200 min MA – Normally act as a support if the stock trades above the line and act as resistance
once is try broken this line. If this stock is in bearish mode and for the first time it try to break
its 200min MA line…. then it will try to play an immediate restore game and failing to close below
this support or breaking this support will invoke a huge downtrend and viceversa
But stocastics is giving a more clear signal for both the entry and exit points
and more over allowing us to take multiple trades to play this stock both the way.