IDBI has been moving continuously in channel. Currently We have witnessed an impulse wave 3 which made high around 77. These are below few things to be noticed.
1. Impulse wave around 77.
2. Bearish Gartley with D leg almost expected around 77.
3. Previous structure resistance around 77.
I am expecting one retracement to slightly below 75 on Monday. Those...
IDBI has been trading in a channel on a daily charts. Will it test the resistance trend line again.
As of now one can buy it for first target of 81.
But one has to be careful on the upside as well as there is a potential bearish Gartley devloling inside the channel.
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***
Q1 FY16-17 results have reported profits and seems like Bank has done with writeoff of NPA. Since last year there are news of privatization of this bank like Axis Bank.
Bank is in process of share sale of Rs6000cr and also separate offering for preferential shares which will allow investors to take over the management as per reports available in media. Bank’s...
IDBI on hourly timeframe has wedge pattern and price is near the lower trendline of wedge pattern and if you notice there is another wedge formation in 15mins. Initially I thought of posting this 60min wedge as positional trade and later converted it to intraday post bcos of Inner wedge. So Intraday traders can trade the inner wedge's direction of breakout and if...
![IDBI: IDBI : [Intraday] Wedge within [Positional] Wedge : Breakout ?](https://s3.tradingview.com/s/sCk6xKHM_mid.png "IDBI : [Intraday] Wedge within [Positional] Wedge : Breakout ?")