IDBI closed above downward trendline (started in 2007) which is positive news.
With good Q1 results, stock might test levels of 60/62.
This is educational idea only
BUY - IDBI BANK LTD
CMP - Rs. 55
Target - 1: Rs. 90
Target - 2: Rs. 128
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Timeframe - Target - 1: 6-9 months & Target - 2: 1-2 years
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Technicals - Bullish Triangle Breakout
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This is just a view by an expert analyst, please invest at your own risk.
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In the Weekly Chart of IDBI ,
we can see that; it is creating Higher Low's created.
Also, it has faced multiple rejections at 60-62.
Enter at 56 with SL as 53 and target as 85-87.
Book profit with 1:10 Risk Ratio at 85-87 and exit.
NSE:IDBI is moving in a triangle and is respecting the upper trend line.Also,the 200SMA is showing a upward trend.So, a strong breakout of the upper trend line may lead to a strong rally up to 91.
My agenda for this video: I wanted to portray how Experience and Profits are not directly proportional to each other, but the process gives us strength to create an edge in the stock market, not become a gambler and follow something of our creation. This creation leads us to profitability as well as experience.
A trader Experiences many things in life; I have...
IDBI:- The stock is showing a May Head and Shoulders formation and is about to give a breakout. keep on Radar.
Hello traders,
As always, simple and neat charts so everyone can understand and not make it too complicated.
rest details mentioned in the chart.
will be posting more such ideas like this. Until that, like share and follow :)
check my other ideas to...
The government is planning to sell at least 51 per cent of the state-owned lender. And also, LIC and the government will take buyer interest by the end of September. A group of ministers will make the final decision on the structure of the deal. Shares of IDBI Bank have jumped 6.3 per cent in the past 12 months, raising its market valuation to about Rs 42,470...
WIth the govt having announced the sale of IDBI stake along with LIC. Its good to note LIC got IDBI at Rs 61 and for the sake of its shareholders wouldn't accept a loss below it.
If the stock bounces from either here or close to 41.50 its a good time to buy the stock. Additional pyramiding can be done above 46.50 if and when it moves upwards.
Stoploss after...
POSSIBLE UP MOVE
EVERYTHING IS MENTIONED ON THE CHART
DEEP VOLUME ANALYSIS + BREAKOUT + ADVANCE ANALYSIS
NOTE - THIS is for educational purposes only. This is not any recommendation. I am not SEBI registered.
