Today i have made a post on IDBI hourly
I hope you find this post helpful and informative👍
The targets and stoploss would be given in the charts or they would be according to pivot points
I am not a SEBI registered financial advisor
Please consider your consultant's advise a must , all the setups posted here will be...
One of the first few banks to be selected for disinvestment by the government would be IDBI Bank. It has really great financials with a promising future. Some really great companies are definitely coming forward to bid for IDBI. Above 45, a breakout is expected with targets 60/90/120/150.
ON 12TH MARCH Watch for IDBI.
SHORT TERM AND POSITIONAL CALL FOR TARGET 41/42/43.70
STOP LOSS: 35.0
Highlighted in rectangle to Mark Trend Reversal after previous 2 day short covering and ready to move up.
1) MACD -Good
2) RCI - Good
3) Volume - Good
Looks positive move from here
Other technical aspects
1) Moving Averages: BUY
2) Technical Indicators: STRONG...
idbi first bank in day high and trying to breakout 46 price level..better opportunities and market scenario is in perfect condition..
bank also improved their performance QoQ..and good pick for long term as well
Trade Setup: This is a Contra trade.. IDBI was falling and now it engulfed previous day candle with volume. Can be traded on long side..
Buy Zone: 32.20 - 32.50
Target and SL =As per Chart
1. Trading requires more than technical analysis . e.g. Risk Management, trade management, psychology etc.
2. Always follow stop loss.
3. Once a trade is in...