IDBI bank on weekly charts breaking out of a triangular pattern. Range of that triangle is 95-47=48 points and break out is coming around at 74 so 74+48=122.
123 is also the 161.8% extension of the previous fall from 95 to 47. So IDBI bank is a buy at cmp of 75.25 with a stop loss of 68 for a long term target of 122.
Disclosure: I am not a SEBI certified technical analyst so please consult your financial adviser before acting on this call. Further i do own stock in my portfolio.
123 is also the 161.8% extension of the previous fall from 95 to 47. So IDBI bank is a buy at cmp of 75.25 with a stop loss of 68 for a long term target of 122.
Disclosure: I am not a SEBI certified technical analyst so please consult your financial adviser before acting on this call. Further i do own stock in my portfolio.
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