mihirksh
Long

INDIAN OVERSEAS BANK LONG

NSE:IOB   INDIAN OVERSEAS BK
IOB has probably bottomed out with a support at 20.50 - 22.50 ... and according to my observations technicals show a positive divergence on RSI & MACD (5/8/3) .. Stock might move up to its resistance at 32 and from there breakout possibility ...

T1 24.50
T2 26.80
T3 29.00
SL 21

Discl : its my 1st published idea so please help me with your feedback .. thanks
IOB is under huge bearish mode, but now at this level its do or die for IOB. I feel seeing my analysis immediate levels are 23.40/24.50/28.54/31. IOB has to break each level to enter higher level.
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@chayaa, thanks for you feedback means a lot ... i feel now it depends how the fundamentals are .. if showing positive prospects then its a good for the stock prices ... regards
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chayaa mihirksh
@mihirksh, track QOQ result and it will help , if results are good it can touch 26 level very soon
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@chayaa, well its just trimming its losses since june 2016 from -1450 till -499 last quarter ... so hopefully it should trim some more ... feels like on comma ..hahaha
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chayaa mihirksh
@mihirksh, as per 31 march 2017. IOB had 517 wilful defaulters with total amount to 3473 cr. A total of 508 suit filed of amounting to 3411 cr, 30 FIR filed amounting to 787 cr. and 93 SARFAESI action intiated amounting to 1380 cr
i dont think trimming loss will help IOB until the NPA problem is settled. However still trimming of loss will bring some temporary cheers to IOB price. Thanks and Regard
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