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Sahilkarangia

IDBI: Rally post a retest of breakout level

Long
IDBI BANK LTD (NSE:IDBI)  
Sahilkarangia  
NSE:IDBI   IDBI BANK LTD
Technical Indicators Chart Patterns Fundamental Analysis IDBI idbibreakout idbibank idbiswing
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indicator chartpattern fundamental idbi idbibreakout idbibank idbiswing
IDBI has retested the breakout level of INR 45.

The rationale for buy
- Volume expansion @ breakout, Pullback with fall in volume.
- Pattern: Reverse Head and Shoulder
- The bank has made an annual net profit for the first time in FY2020 since FY2016.

The stock is expected to rally to the 60-63 level.

This is my opinion and not a recommendation. This is only for educational purposes.
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