RSI low/high Values: [ 25 - 75 ]
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AI Analysis of IDFCFIRSTB.BO
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IDFC FIRST BANK LIMITED stock downgraded to Sell Candidate
(Updated on Mar 28, 2024)

Sell candidate since Mar 28, 2024 PDF

The IDFC FIRST BANK LIMITED stock price fell by -3.11% on the last day (Thursday, 28th Mar 2024) from ₹77.81 to ₹75.39. During the last trading day the stock fluctuated 1.88% from a day low at ₹75.10 to a day high of ₹76.51. The price has been going up and down for this period, and there has been a -2.7% loss for the last 2 weeks. Volume has increased on the last day by 196 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 199 million shares were bought and sold for approximately ₹14.99 billion.

The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -10.71% during the next 3 months and, with a 90% probability hold a price between ₹65.09 and ₹72.02 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.

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IDFCFIRSTB.BO Signals & Forecast

There are few to no technical positive signals at the moment. The IDFC FIRST BANK LIMITED stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at ₹77.10 and ₹80.25. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, February 26, 2024, and so far it has fallen -10.19%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

Support, Risk & Stop-loss for IDFC FIRST BANK LIMITED stock

There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved ₹1.41 between high and low, or 1.88%. For the last week, the stock has had daily average volatility of 1.68%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (IDFCFIRSTB.BO) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect IDFC FIRST BANK LIMITED to open at ₹75.67, and during the day (based on 14 day Average True Range), to move between ₹73.46 and ₹77.32, which gives a possible trading interval of +/-₹1.93 (+/-2.56%) up or down from last closing price. If IDFC FIRST BANK LIMITED takes out the full calculated possible swing range there will be an estimated 5.13% move between the lowest and the highest trading price during the day.

With no support below and resistance from accumulated volume @ ₹79.61, some ₹4.22 (5.60%) from the current price of ₹75.39, our system finds the risk reward not very attractive.

Is IDFC FIRST BANK LIMITED stock A Buy?

IDFC FIRST BANK LIMITED holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -4.901 Sell Candidate Downgraded

Predicted Opening Price for IDFC FIRST BANK LIMITED of Monday, April 1, 2024

Fair opening price April 1, 2024 Current price
₹75.67 ( 0.367%) ₹75.39

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Trading levels for IDFCFIRSTB.BO

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 77.08 2.24 %
R2 76.54 1.52 %
R1 76.21 1.08 %
Current price: 75.39
Support S1 75.13 -0.347 %
S2 74.80 -0.789 %
S3 74.26 -1.50 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 88.29 17.11 %
R2 81.00 7.44 %
R1 79.61 5.60 %
Current price 75.39
Support S1 0 .
S2 0 .
S3 0 .

FAQ

What is the symbol for IDFC FIRST BANK LIMITED Stock and on which exchange is it traded?
The symbol for IDFC FIRST BANK LIMITED is IDFCFIRSTB.BO and it is traded on the XBOM (Bombay Stock Exchange).

Should I buy or sell IDFC FIRST BANK LIMITED Stock?
IDFC FIRST BANK LIMITED holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.

How to buy IDFC FIRST BANK LIMITED Stock?
IDFC FIRST BANK LIMITED Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy IDFC FIRST BANK LIMITED Stock.

What's the current price of IDFC FIRST BANK LIMITED Stock?
As of the end of day on the 2024-03-28, the price of an IDFC FIRST BANK LIMITED (IDFCFIRSTB.BO) share was ₹75.39.

What is the 52-week high and low for IDFC FIRST BANK LIMITED Stock?
The 52-week high for IDFC FIRST BANK LIMITED Stock is ₹100.74 and the 52-week low is ₹52.45.

When is the next earnings date for IDFC FIRST BANK LIMITED?
The upcoming earnings date for IDFC FIRST BANK LIMITED is Apr 27, 2024.
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