Here’s a **technical analysis infographic summary for IDBI BANK LTD** based on the chart you provided:
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### 📊 **IDBI BANK LTD – Daily Chart Summary**
* **Pattern Formed:** ☕ **Cup and Handle (Bullish Continuation)**
* The cup formation is clearly visible and a breakout has occurred above the neckline resistance.
* **Breakout Zone:**
* **Neckline resistance:** ₹87.55 (now acting as support)
* **Breakout confirmation with volume**
* **Measured Move Target:**
* Cup Depth: ₹21.56
* Target = ₹87.55 + ₹21.56 = **₹109.00**
* **Current Price:** ₹94.52 (as of the latest candle)
* **Volume Analysis:** 📈
* Significant surge in volume on breakout = strong buying interest.
* Volume well above moving average – confirms breakout strength.
* **Support Levels:**
* Immediate: ₹87.56
* Lower: ₹68.00 and ₹65.91 (base of the cup)
* **Resistance Ahead:**
* Minor: ₹95.99 (recent high)
* Target zone: **₹107.99 – ₹109.00**
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### 📌 **Technical View:**
**Bullish breakout confirmed** from a classic cup pattern. Price is heading towards the projected target of ₹109 with strong volume support. Dips toward ₹87–₹90 may provide accumulation opportunities.
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---
### 📊 **IDBI BANK LTD – Daily Chart Summary**
* **Pattern Formed:** ☕ **Cup and Handle (Bullish Continuation)**
* The cup formation is clearly visible and a breakout has occurred above the neckline resistance.
* **Breakout Zone:**
* **Neckline resistance:** ₹87.55 (now acting as support)
* **Breakout confirmation with volume**
* **Measured Move Target:**
* Cup Depth: ₹21.56
* Target = ₹87.55 + ₹21.56 = **₹109.00**
* **Current Price:** ₹94.52 (as of the latest candle)
* **Volume Analysis:** 📈
* Significant surge in volume on breakout = strong buying interest.
* Volume well above moving average – confirms breakout strength.
* **Support Levels:**
* Immediate: ₹87.56
* Lower: ₹68.00 and ₹65.91 (base of the cup)
* **Resistance Ahead:**
* Minor: ₹95.99 (recent high)
* Target zone: **₹107.99 – ₹109.00**
---
### 📌 **Technical View:**
**Bullish breakout confirmed** from a classic cup pattern. Price is heading towards the projected target of ₹109 with strong volume support. Dips toward ₹87–₹90 may provide accumulation opportunities.
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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.
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.