Approaching the mother of all trend lines
Idfc bank has taken a support at this trend line continuously since March 2020 correction. The fundamentals are improving every quarter and it is reaching escape velocity to be regrouped from deep value to value to Blue chip in a few years. There has been huge institutional buying at the levels of 57, which will serve as anti-gravity level and leaves very less chance for a big correction.
If something goes horribly wrong in the market, it might go to levels of 45-47 but this would create attractive buy from these levels for a target of 70
If something goes horribly wrong in the market, it might go to levels of 45-47 but this would create attractive buy from these levels for a target of 70
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