Looking at the chart of IDFC First Bank, we can observe how history tends to repeat itself in the stock market. Over the past three years, the stock has formed similar chart patterns, each time moving in an uptrend
. Currently, the market is consolidating within the βΉ70-75 range
, forming a potential bullish flag pattern . A breakout from this range might indicate an upside rally
.
For educational purposes, this could serve as an example of how technical analysis can help identify possible market opportunities.
Itβs important to note that the stock might dip further due to factors like market manipulation or global events. However, IDFC First Bank remains fundamentally strong, making it a valuable consideration for long-term investors.