The stock has taken support from its 52-week moving average, with a favorable risk-reward setup for investors.
MACD indicates a positive crossover, supporting a bullish bias in the stock. Technical indicators point to a sideways to positive scenario.
The estimated target price for IDFC First Bank is 93, with an expected upside of 14% over the next 35 days. Recommended Buying Range Between 80-83.50. Stoploss: 75
The stock is trading above all major moving averages, maintaining a higher high and higher low formation on a larger timeframe.
Accumulation signs are evident in the stock, indicating increased investor interest and potential for further gains.
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