IDBI trade ideas
[Intraday] IDBI Bank Inside BarContinuously falling from past 8 days & today made an Inside bar.
Long above 57.50, SL PDL
Short below 56.05, SL PDH
If gap up or down, follow 5min ORB.
sell Futures Sell Below the level and take profits near 59.60 in Futures stop would be 1.00 and should trail once price move away
Beautiful and strong Double bottomBeautiful and strong Double bottom green line being target and bottom wave as stoploss
IDBI Bank Overview | Short and week overview THis is not convincing Head and Shoulder pattern.
Why?
Volume is not convincing at the peak of heads !!
Long term trend is down !!
You could enter at the given level with Week hold in mind .
Take profit 1 can hit as INTRADAY and if you could hold longer TP2 will also hit.
Keep in mind, Stock is not trendy as much trending sideways.
Disclaimer : not an investment advice
idbiwith sl of 56 go long in idbi for first target of 63 where we have two resistance - 200 dma and rectangle resistance.
Buy on dips for long termAs per Nifty, IDBI bank may go down from here so keep accumulating on dips for long terms.
