IDFC Limited (IDFC) Stock - Complete Technical Analysis - Sep 06, 2024

IDFC Limited (IDFC) Stock Analysis Key Support

Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Investing in stocks involves risks, and it's essential to conduct thorough research or consult with a financial advisor before making investment decisions.

IDFC Limited is currently trading at 111.16, showing a relatively stable performance after bouncing from its 52-week low. The RSI at 48.03 indicates that the stock is in neutral territory, neither overbought nor oversold. ADX at 19.27 suggests a weak trend, showing that the stock may consolidate before making any decisive move. The MACD remains slightly positive, but the momentum is weak as indicated by the Momentum and Awesome Oscillator being relatively flat.

The stock is trading below key moving averages like the 50 EMA and 200 EMA, showing resistance around the 113 to 115 zone. If the stock manages to break above this, the next resistance will be closer to 120. Support is found near 105, aligning with its recent lows, and a break below this level could see the stock testing the 100 mark.

Traders should watch for a move above 113, as it may indicate renewed upward momentum. However, caution is warranted due to the mixed signals from momentum indicators, and the recent Bearish Engulfing pattern suggests a potential pullback.