Currently we are in the 5th wave as per daily chart. It has started moving in a channel. Considering recent sideways market, IDFCBANK can be a good trading candidate for some time ahead. It can be a good to buy near channel support and sell near channel resistance.
Please note that if the 5th wave turning a truncated wave then the high of 3rd wave i.e. around 83 - 85 will not be taken out. On the completion of 5th wave we can expect major correction.
Please note that if the 5th wave turning a truncated wave then the high of 3rd wave i.e. around 83 - 85 will not be taken out. On the completion of 5th wave we can expect major correction.