IDBI Bank has formed Bullish pattern - Applying simple technicals

                     
                                                             PSU Bankex Daily Chart

                                                                      IDBI Daily Chart

• IDBI Bank has broken out of an Ascending Triangle above 75.
• The stock has made an higher bottom and breaking of down trend around 72 showing near term bullishness can test pattern targets of 90 odd levels (= 38.2% retracement is well)
• Bank NIFTY along with PSU Bankex looking strong as shown in daily chart above.
• The stock can be accumulated around 72 to CMP (76) with Stoploss below 70 for targets of 90

Raju V Angadi

Equity Research Analyst

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Disclaimer: This is just an view based on the research of individual for educational purpose. So kindly trade along with the consultation of your financial adviser, market trends, price action and own risk appetite considered while INVESTING or trading in markets