IDFC is behaving on similar lines with Banknifty, and that's understandable. But IDFC is providing with a unique opportunity of a possible parabolic rise, in the most dynamic wave [3] of III of {C}. We have already crossed over two very important levels of 125.90 - 129.50. So we can work from the premise that the correction in wave {B} is over. MACD, RSI, STS are all in positive territory. MACD is about to form a second hook, which is mostly precedes an explosive move. RSI may take support at 50 levels. We need to close above the 131 5 DEMA levels to confirm a bullish bias for the prices. The {A} wave was almost a straight line move, and we can already see prices pausing and giving wave {C} a clear 1-2/1-2 look. We can see many things are falling in place, and we can take a long position with SL below 123.50. We may target 145 - 155 - 180 levels, if the wave {C} envisaged on Nifty and Banknifty takes place.
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