Tech Query: IDFC First Bank, Oil India, JSW Energy, Delta Corp; what is the outlook and where are these stocks headed?

I have bought IDFC First Bank shares at ₹76. What is the long-term outlook for this stock?  

Janhavi, Faridabad

IDFC First Bank (₹68): The overall outlook is bullish. But short-term dips cannot be ruled out. Supports are at ₹58 and ₹54 which can be tested in the coming weeks. Lower support is at ₹48 which can be tested in a worst-case scenario. However, a fall beyond ₹48 is unlikely. A bounce anywhere from this broad ₹58-48 region will indicate the beginning of a fresh leg of upmove.

That will have the potential to take IDFC First Bank share price up to ₹110-120 over the long term. Buy more at ₹60 and ₹56. Keep the stop-loss at ₹42. Move the stop-loss up to ₹73 when the price goes up to ₹85. Revise the stop-loss further higher to ₹86 and ₹98 when the price touches ₹94 and ₹103 respectively. Book profits at ₹110.

What is the outlook for Oil India? Can we enter this stock now?

Nikhil

Oil India (₹390.35): The trend is down and strong since mid-June this year. The region between ₹420 and ₹430 is a strong resistance zone. The stock has to rise past ₹430 to turn the outlook bullish. Only then the upside will open up for a rise to ₹500 and higher levels. But such a rise looks less likely. So, for now, the chances are high for the downtrend to remain intact.

Oil India share price can fall to ₹330-300 and then possibly reverse higher again. A fall below ₹300 is less likely. If you want to buy this stock, wait for the fall. Buy at ₹340 and ₹320. Keep the stop-loss at ₹280. Move the stop-loss up to ₹360, ₹390 and ₹420 when the price touches ₹385, ₹410 and ₹435 respectively. Exit the stock at ₹450.

I have shares of JSW Energy. My average purchase price is ₹528. What is the long-term outlook?

Rahul Raju

JSW Energy (₹487.95): The long-term trend is up. Within this the stock has been in a corrective fall since September last year. Resistance is around ₹580 while below which the stock can still fall to ₹400-390 – an important long-term support zone. The stock can find a bottom in the ₹400-390 support zone and then reverse higher again.

That leg of upmove will have the potential to breach the resistance at ₹580. Such a break can take the share price up to ₹800 initially and ₹1,000 eventually over the next couple of years. Accumulate on dips at ₹420. Keep the stop-loss at ₹360. Revise the stop-loss up to ₹540 when the price goes up to ₹630. Move the stop-loss further up to ₹680 and ₹860 when the price touches ₹820 and ₹940 respectively. Exit the stock at ₹980.

Can I buy Delta Corp shares at current level? What is the technical outlook?

Maneel

Delta Corp (₹84.90): The downtrend in Delta Corp could be coming close to an end. A strong long-term support is at ₹68 which can halt the current downtrend. A strong bounce from there and an eventual rise above ₹120 will confirm the trend reversal. That leg of rally can take Delta Corp share price up to ₹250 over the next two-three years.

If you intend to buy this stock, then you need to have a lot of patience. You can split your purchase in three tranches.  Buy at ₹82, ₹77 and ₹70. Keep the stop-loss at ₹38. Revise the stop-loss up to ₹105 when the price goes up to ₹140.  Move the stop-loss up to ₹160 and ₹190 when the price touches ₹185 and ₹205 respectively. Exit the stock at ₹230.

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Published on August 30, 2025