IDBI Bank share daily chart analysis
IDBI stock on last trading session closed at 56.2 with gains. On daily chart, stock price trend is down but momentum is on recovery side, which already given prices rally from 52 to now 56.
For month of March, stock below 59.5 will remain bearish but as momentum on recovery side, we may see stock to touch its major resistance and then possibly give bullish breakout if market environment supports. Daily chart indicators pattern has given fresh buy signal at 55.
For March 2014, stock has supports at 53.5 and then 50 while on upside 59.5 and then 63 are strong resistances and targets in current scenario.
IDBI Bank share weekly chart analysis
IDBI stock weekly chart is in downtrend and trading below major average. Indicators pattern are mixed. IDBI stock below 60 on weekly closing basis will remain sell or stay away. On downside, 47 and 35 are strong medium term support zones while on upside 60 and then 72 are strong resistances. On major correction, levels below 47 will be value buy with 1-year view and for target 72 rupees.
IDBI Bank share monthly chart analysis
IDBI stock is underperformer stock and in last 6 month has given only 6% return to investors. Major indices had given 13-14% return in same period. From long-term view, any thing below 50 rupee to 34 rupee is best buy for investors. Below 34-rupee stock become, much undervalued and value buy from very long-term view.
As financial stocks, are high beta stocks we may see high price volatility ahead. On upside 81 rupee is 12-18 month target zone level for stock and 105 will be 3-5 years target zone level. Those want to invest in banking sector must keep enough patience so see expected gains and enter in at right levels. In all bull markets, banking was at the top.
IDBI Bank description
DBI Bank Limited (the Bank) is an India-based commercial bank. The Bank operates in three segments wholesale banking, retail banking and treasury services. The Bank offers personalized banking and financial solutions to its clients in the retail and corporate banking arena through its network of branches and automated teller machine (ATMs). As on March 31, 2012, the Bank had a network of 973 Branches and 1542 ATMs. The Bank, besides its core banking and project finance domain, has a presence in associated financial sector businesses like capital market, investment banking and mutual fund business. The Bank also provides infrastructure financing for structuring and financing of infrastructure projects in the areas of power, telecom, roads, airports, seaports, railways and logistics, as well as special economic zones (SEZs).
IDBI Bank stock fundamental ratios
|Range||56.05 – 57.30|
|52 week||52.30 – 93.75|