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Varun_B

Institutions are building up their positions in IDBI bank

IDBI BANK LTD (NSE:IDBI)  
Varun_B  
NSE:IDBI   IDBI BANK LTD
Trend Analysis Trend Lines Volume indianmarket idbibank breakout Bullish Patterns pricevolumeanalysis
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trendanalysis trendline volumestudies indianmarket idbibank breakout bullish pricevolumeanalysis
IDBI bank is gearing up for the large moves in coming few weeks. There was a large accumulation for about 2 years and gave a break out with good volume on 28 sep 2021. We can also see that prices are making higher highs and volume is 2 times more when compared with the volume from April 2021 to Sept 2021 that clearly depicts, we are in Trending zone. At present it is a good opportunity to enter trade with good RR ratio (1:2).
Long term trade:- target Rs. 70 to 80 with Stop loss of Rs. 42
Short term trade :- target Rs.65 with stop loss of Rs.50
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