Sahilkarangia

IDBI: Rally post a retest of breakout level

Long
NSE:IDBI   IDBI BANK LTD
IDBI has retested the breakout level of INR 45.

The rationale for buy
- Volume expansion @ breakout, Pullback with fall in volume .
- Pattern: Reverse Head and Shoulder
- The bank has made an annual net profit for the first time in FY2020 since FY2016.

The stock is expected to rally to the 60-63 level.

This is my opinion and not a recommendation. This is only for educational purposes.