IDBI Bank has huge volume . . . it has been accumulated well enough
Recent breakout on daily time frame.
Once can purchase it for 2X target in 5-6 month frame if the trendline is broken in near future.
Near time resistance is at 67.5, if broken one can see it going towards 100
Disclaimer: This is an educational chart setup and not any kind of recommendation Pls...
IDBI has retested the breakout level of INR 45.
The rationale for buy
- Volume expansion @ breakout, Pullback with fall in volume.
- Pattern: Reverse Head and Shoulder
- The bank has made an annual net profit for the first time in FY2020 since FY2016.
The stock is expected to rally to the 60-63 level.
This is my opinion and not a recommendation. This is only...
IDBI BANK LTD is in Bullish Wolfe Wave pattern formed over years(Wave countings has been marked). The chart is bit difficult for a newbie to observe.Let me brief you in key points.
Very recently it has got activated again and broked the 135 TL. But the good thing about this time is, it has sustained above the 135 TL for 2 weeks.
1.The blue circles that used to...
One great swing opportunity seems to be building on the charts of IDBI bank. On the weekly time frame this script has broken out from below a twenty year old descending trend-line and a double bottom as well and that too with volumes that are nearing life time high numbers. After breaking out it has again revisited the erstwhile resistance and taken a support...
Stop Loss:- 46
Duration:- 7 to 8 Weeks
The stock has already break the resistance line and showing a bullish candle, which is a upside breakout and indication of upside move. It is also similar type of ascending triangle pattern. So we can buy this at market order. Use proper stop loss and maintain discipline throughout the trading period and use...
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.