IDFC - Update

Hi,
The stock still seems to be moving sideways and there are concerns on that stock. It has to break 59 as the stock has strong resistance at that level.

• The stock tried to penetrate the triangle twice, but has failed on both attempts.
  
• MACD is still positive but the RSI has been moving sideways for the past two weeks.
  
• The OBV has fallen drastically and there was some heavy selling going on that stock as mentioned in the previous mail. This indicator has moved into the negative category, indicating a lot of old buyers moving out of this stock.
  

Overall the stock does not seems to be in a hurry to move upwards and there is time to take position on this stock.

The stock has not changed much and I have not added a new chart. The old chart is available at
http://knowcharts.blogspot.com/2006/07/idfc.html