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The short-term outlook is bullish for IFB Industries. The stock has been managing to hold higher this week amid the weak broader markets. Immediate support is around ₹900. Below that ₹880-870 is a very strong support zone as cluster of moving averages are poised in this region. A fall below ₹870 looks unlikely at the moment. IFB Industries share price can rise to ₹1,000 over the next couple of weeks.
A break above ₹1,000 can take the share price further higher towards ₹1,040 over the next three-four weeks. Short-term traders can buy the stock now. Accumulate on dips at ₹910. Stop-loss can be kept ₹865. Trail the stop-loss up to ₹940 as soon as the stock moves up to ₹955. Move the stop-loss further up to ₹975 when the price touches ₹1,000. Exit the long positions at ₹1,030.
(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)
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