IDBI BANK LTDUpdated End of fall. May rise after hitting 60 levels.
IDBI consolidating from Jan-2024 in range of 75 to 87 levels with occasional spike. Now it breakdown levels of 75. Similar we noticed earlier as well.
During jun-20 to sep 21 IDBI consolidated around 35 rs and spike to 60 levels and fallen to 30 levels. In this fall, shares might have moved weak hands to strong hands.. and stock started uptrend Jul 2022 and ended in Jan 2024 at levels of 75.
Same pattern repeated now. Consolidated from Jan 2024 to Jul 2024 and sudden spike to 108 levels and breakdown below 75. Guessing shares might have moved from weak hands to strong hands It may hit levels of 60 levels and resume uptrend.
During jun-20 to sep 21 IDBI consolidated around 35 rs and spike to 60 levels and fallen to 30 levels. In this fall, shares might have moved weak hands to strong hands.. and stock started uptrend Jul 2022 and ended in Jan 2024 at levels of 75.
Same pattern repeated now. Consolidated from Jan 2024 to Jul 2024 and sudden spike to 108 levels and breakdown below 75. Guessing shares might have moved from weak hands to strong hands It may hit levels of 60 levels and resume uptrend.
Trade active
Next uptrend will start around 55/60 levels.. In chart i added worst case scenario.Note
Reversed much earlier than predicted.. If tomorrow also form green candles.. we can call it as reversal and target in 120 rs in medium term 6-12 monthsNote
Close above 87 and retest 87 will push price towards 100 levels.. 
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.