Wait for clearance of 125 levels: Rajat Bose, rajatkbose.com
That downtrend needs to be reversed and at least for this downtrend to be reversed, the technical signal would come above 140.
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| Updated: In a chat with ET Now, Rajat Bose, rajatkbose.com, talks about IDFC.
What is the call on IDFC?
As of now, I would say that if anybody is trying to go with a bargain hunting kind of a situation, then you actually place a bet somewhat lower than yesterday’s low, say maybe below say 105 you put your stop loss and buy here but otherwise ideally this should be bought only when it sustains above 125 and the recovery would be confirmed only when it crosses 140 because in the recent months at least from April till about yesterday, it was in a downtrend.
That downtrend needs to be reversed and at least for this downtrend to be reversed, the technical signal would come above 140 but the initial buy signal would come above 125. Only aggressive bargain hunters can buy with a stop below yesterday’s low. Otherwise wait for clearance of 125 levels.
What is the call on IDFC?
As of now, I would say that if anybody is trying to go with a bargain hunting kind of a situation, then you actually place a bet somewhat lower than yesterday’s low, say maybe below say 105 you put your stop loss and buy here but otherwise ideally this should be bought only when it sustains above 125 and the recovery would be confirmed only when it crosses 140 because in the recent months at least from April till about yesterday, it was in a downtrend.
That downtrend needs to be reversed and at least for this downtrend to be reversed, the technical signal would come above 140 but the initial buy signal would come above 125. Only aggressive bargain hunters can buy with a stop below yesterday’s low. Otherwise wait for clearance of 125 levels.
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