IDFC First Bank Faces Selling Pressure After Q1; SEBI Analysts Track ₹70–₹66 Zone As Key Support Range

IDFC First Bank is back in focus after its first quarter (Q1) results, with the stock showing signs of pressure following repeated failures to break past key resistance levels.

The bank reported a 23% year-on-year rise in net profit to ₹765 crore, supported by lower provisions. Net interest income (NII) grew 24% to ₹4,282 crore, aided by strong loan growth. 

The current account savings account (CASA) ratio stood at 47.5%, which the firm noted is among the best in the sector. 

Gross non-performing assets (GNPA) improved to 2.03% from 2.17% a year ago, while the total loan book rose 24% year-on-year to ₹2.2 lakh crore. 

SEBI-registered investment advisor Financial Independence rated the quarter “positive,” citing consistent performance, a retail-focused growth strategy, a high CASA ratio, and improving margins.

SEBI-registered analyst Vijay Kumar Gupta said the stock is weakening after a disappointing quarter, with upcoming sessions likely to decide direction as prices test the ₹70–₹70.50 support zone.

Gupta, however, highlighted concerns from another set of Q1 figures, which showed a 32% year-on-year decline in net profit to ₹463 crore, weighed down by higher provisions and weakness in the microfinance segment. 

The microfinance portfolio was trimmed by nearly 37% to mitigate risk. 

Despite these pressures, the bank said that it has enabled Unified Payments Interface (UPI) access for non-resident Indians (NRIs) in 12 countries, enhancing its digital footprint. 

Institutional interest also remains high, with a recent investment commitment of around ₹7,500 crore from global investors.

From a technical perspective, Gupta marked ₹70.00–₹70.50 as an immediate demand zone, with a stronger support near ₹66.40 (close to the 200-day moving average) and ₹60.20, a historical accumulation level. 

Resistance zones are seen at ₹73.70, ₹77.40, and ₹78.16. Gupta noted that price has consistently been rejected from the ₹73.70+ area, with failed breakout attempts and low-volume bounce-backs reflecting weak buyer conviction. 

He cautioned that a breakdown below ₹70 could trigger a slide toward ₹66 or even ₹60, while a meaningful recovery would require a close above ₹73.70. 

Unless a strong trigger emerges, he expects price consolidation between ₹66 and ₹73.

On Stocktwits, retail sentiment was ‘bearish’ amid ‘normal’ message volume.

The stock has risen 10.7% so far in 2025.

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