IDBI Share Price Target 18th Feb 2016
IDBI Share price today made a low of 50.30 and then started a recovery and finally closed the day at 53.50 at the high point of the day. As per our IDBI Share Price Forecast / IDBI Share Price Prediction we see IDBI Bank outperforming the broader banking sector which includes both public sector banking and private sector banking stocks and we do not see any significant downside from 50.30 the low which it has tested today. As per our analysis of the share price we are commending a short term buy in IDBI Bank with a target price of 80 rs and we are expecting a fast move in IDBI Bank as the overall structure looks good to us on the charts. IDBI Bank is currently forming consolidation pattern and post this consolidation we can expect a vertical move towards our target price of 80 IDBI could also exceed the initial target price of 80 and even retest its previous high of 93 area so that needs to be kept in mind. Overall from a short term traders perspective or from a positional traders perspective IDBI Bank looks a very good buy for the next few weeks. Please note that although we are expecting a fast bullish wave in IDBI Bank it will have its share of volatility. So if you are trading only on the basis of this post then kindly trade with appropriate risk management systems and trade. When to buy, where to buy and how much to buy, where to book profits, when to book profits etc all details will be given to our clients live during Indian Stock Market trading hours. IDBI overall chart structure looks much better than Bank Nifty or any of the other front line banking stocks. Kindly avoid Icici Bank at all cost the structure has broken down and there will be extreme problems in Icici Bank in the next 3-4 months. Kindly avoid Icici Bank at all cost and please do not touch Icici Bank. As per our analysis Icici bank could be the worst under performing stock in the Banking sector even worst than some of the leading Public sector banking stocks. Extreme caution is advised in Icici Bank.
Good Trading To You!