Idbi Share Price Target 19th Jan 2016
IDBI Share Price has tanked inline with the overall weakness in the Banking sector and has fallen from 95.70 to almost 52. Regular readers and clients of this website will recall that we had taken trading longs in IDBI at 81-83 and then booked out totally at 91-93 area (That is what we meant by trade in and out and even the current move will be a trade in and out move, this will not be a buy and hold for eternity trade, one will have to keep taking profits at regular intervals as overall Bank Nifty / Banking sector is set to under perform the broader benchmark indices) . Now once again IDBI Share price is looking good as it is nearing a major support area of 49-52 Nse spot levels mentioned.
IDBI Minor Trend is down / bearish. IDBI Major Trend is up / bullish. On dips towards support area buy and hold IDBI Bank around the support zone of 49-52 Nse spot levels mentioned. As per our analysis of IDBI Share price / IDBI Share price forecast / IDBI share price prediction we see IDBI once again touching a high of 92-95, so risk reward ratio is in favor of buying around the support zone and we feel should keep a trading stop loss of 47 and buy and hold as the share price / stock price is set to outperform the broader Banking sector.
Good Trading To You!