| CMP# | 34.45 |
| Idea | SELL |
| Sell Range | 37 – 34 |
| Target | 28 – 27 |
| StopLoss* | 40 |
| Duration | 40 – 60 Trading Sessions |
| Potential Return^ | 19 – 22% |
| CMP# | Idea | Sell Range | Target | StopLoss* | Duration | Potential Return^ |
| 34.45 | SELL | 37 – 34 | 28 – 27 | 40 | 40 – 60 Trading Sessions | 19 – 22% |
# CMP on May 13, 2019
* Maintain recommended StopLoss by daily closing basis.
Once 1st target hit, reset StopLoss at 31.
^ The returns are calculated based on CMP#
COMPANY OVERVIEW
IDBI Bank provides banking and financial solutions to retail and corporate clients in India. The company also offers fund based assistance, including working capital, term loans, project finance etc. Founded in 1964, the company operated 1892 branches and 3700 ATMs as of March 2019. IDBI Bank Limited is a subsidiary of LIC India.
| Stock Data | |
| NSE Code | IDBI |
| Sectoral Index | NIFTY BANK |
| 52W High | 68.1 |
| 52W Low | 34.25 |
| Face Value | 10 |
TECHNICAL OBSERVATIONS (WEEKLY)
- The stock has remained in the corrective phase over the last 5 years.
- Recently the stock has made Breakout below the true crucial downward Weekly support, around 40.
- Such an important downside breakout suggests further price falling in future.
TECHNICAL OBSERVATIONS (DAILY)
- The stock moves in the Consolidation phase since last 4 months and gave a breakout on the daily chart.
- Momentum oscillator like 12 period MACD is showing negative signal and now placed at bearish zone. This could be an indication of downside momentum in stock price.
CONCLUSION - IDBI BANK SHARE PRICE FORECAST
Based on our short term trading ideas, IDBI Bank share price target will be 28 – 27 in the next few days.