IDFC First Bank shares hit eight-month low, volumes surge; analysts on key levels to watch

Shares of IDFC First Bank crashed to an eight-month low on Monday after the lender disclosed a Rs 590-crore fraud committed by its employees and others in accounts held by the Haryana government with the private sector lender.

IDFC First Bank shares fell to an over eight month low of Rs 66.85 today. Total 250.33 lakh shares of the firm changed hands amounting to a high turnover of Rs 172.18 crore. 

The banking stock last fell below this level on an intra day basis on June 6, 2025 at Rs 66.59. 

IDFC First Bank shares sinked 20% intra day to Rs 66.85 in early deals. The sudden crash left investors guessing about the fate of their banking pick.  At 11:20 am, tyhe stock was trading 16.16% lower at Rs 70.06 on BSE. Market cap of the lender stood at Rs 60,237 crore. 

In terms of technicals, the relative strength index (RSI) of the banking stock stands at 50.3, signaling the stock is neither oversold nor overbought on charts. 
The stock is trading in the bearish zone, trading lower than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages.

Here's a look at what analysts said on the outlook of the stock post today's crash. 

Jigar S Patel from Anand Rathi said, "Support will be at Rs 65 and resistance at Rs 75. A decisive move above the Rs 75 level may trigger a further upside to Rs 77. The expected trading range will be between Rs 65 and Rs 77 in the short-term."

Drumil Vithlani, Technical Analyst at Bonanza Portfolio said, "IDFC First Bank stock has broken below its crucial support zone of Rs 77–78 with strong volume, signaling a shift in trend from bullish to bearish. Immediate support is placed near the recent low around Rs 66–67, a level that has been tested multiple times previously. Resistance is now seen at Rs 77, which will act as a key hurdle for any recovery."