Idbi bank is forming cup and handle pattern on daily TF, all Oscillators are positive, closing and sustaining above 39 can lead to a massive rally. Buy @CMP for a target of 65(70% gain), SL:34, Horizon: 8W.
Triangle pattern can be seen on chart.. once broken it can touch its first resistance which is 40.35 if this price is also broken then we can expect the price to go towards 45.
Feel free to correct me in comments section.
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.
Share price is dependent upon the Govt.s decision on disinvestment. An inverse head & shoulders pattern is observed. Over a long period, the price could be reaching levels which I am able to identify will be more than mentioned in the charts. May be LIC will take complete control??