Someone asked me what is the status of IFCI and is it time to buy it back or go SHORT?
Ans: It is still in Bearish Mode. The TTI signal of www.ftalarms.com had given a SHORT on Nov 18th at 70 and still in SHORT mode. The current status is that, it is accelerating downwards once again.
Action advised: You may add to your SHORT position, with a stop of 56 (Daily closing basis)
The chart of the same, with its zoomed view is attached. You can see that it is once again readying for a breakdown. A close below BD (Little more than Friday’s low) is a clear breakdown. I will not be surprised if that breakdown takes it to 38. That is another 25% down in the coming weeks.
Note: Pl read the disclaimer.
Disclaimer: The views expressed herein are to be used with your own discretion and neither analyst nor the publisher will be responsible for the outcome.
