IDBI bank tested multiple times @ 44 levels
And now again at the same level
So positional bet to move up from these levels
Long time trend is downtrend, but still a chance to catch a small upside spike
Above 46 is a good level to enter, to catch 5-10% upside move
Sl could be 44 levels or 42.5 safe levels...
IDBI - Buy in dips as long as price stays above 43 for the targets 58, 66, 74 and 80. Duration : One year.
GMRInfra - Buy is dips as long as prie stays above 35 for the targets 48, 56, 68 and 72. Duration : 2 years.
Note : Consult your financial advisor before investing.
Keep it on your radar as IDBI is trying to move up and break its multi year descending trend line on the weekly chart. The RSI is also getting stronger.
Price has hit Resistance level and has reversed. Price should go down further till 73.92. Also the last Daily candle i.e of 16.9.2016 is a strong bearish candle. Idea is based on price action.
***This idea is published for educational purposes only***
BSE
