IDFCFIRSTB - Technical Analysis with Chart Patterns & Indicators

Last Updated Time : 19 Sept 25, 2:16 pm

Technical Rating: 4.0

Here’s a detailed technical analysis of IDFC First Bank Ltd (IDFCFIRSTB)

📊 Trend Overview

Phase: Trending upward with mild consolidation

Price Action: Trading above both 50-DMA (₹70.9) and 200-DMA (₹69.0), confirming bullish bias.

Volume: Strong — current volume (1.57 Cr) is significantly above 1-week average (1.15 Cr), indicating active participation and accumulation.

📈 Momentum Indicators

RSI (54.7): Neutral-to-bullish zone — suggests steady momentum with room for upside.

MACD (0.44): Positive and slightly diverging — confirms mild bullish momentum.

Bollinger Bands: Price likely near the upper band, indicating strength but also potential for short-term pause.

🧭 Chart Patterns

Ascending Channel: Price has been forming higher lows and higher highs from ₹52.5, indicating a sustained uptrend.

Cup & Handle Formation (Emerging): Rounded base from ₹52.5 to ₹78.5 with a shallow pullback — potential breakout setup.

🔍 Support & Resistance Levels

Level Price (₹) Commentary

Support 1 70.0 Near 50-DMA, short-term base

Support 2 69.0 200-DMA, long-term support

Support 3 65.0 Previous swing low

Resistance 1 74.0 Minor resistance zone

Resistance 2 78.5 52-week high

Major Resistance 82.0 Extension target if breakout occurs

🎯 Entry & Exit Zones

Optimal Entry: ₹70.0–₹72.0 (on dips with volume confirmation)

Short-Term Target: ₹74.0–₹78.5

Exit Zone / Stop-Loss: ₹69.0 (below 200-DMA)

🔄 Short-Term Outlook

Momentum: Mild bullish with breakout potential

Bias: Positive above ₹70.0; cautious below ₹69.0

Phase: Trending — with signs of consolidation before next leg up

🧠 Key Takeaways

IDFCFIRSTB is showing a healthy uptrend backed by volume and moving average alignment.

RSI and MACD support continued strength, while price action suggests a potential breakout above ₹74.

A decisive close above ₹78.5 could unlock upside toward ₹82 and beyond.

Let me know if you’d like a chart visualization or screener of similar breakout banking stocks.

Edit in a page