July 2006


Dear all ,

IDBI stock is currently at its resistance levels hence we have to wait and see the direction of movement before we take positions in the stock .

As it is critically poised ..  we can expect the stock to either breakout on the upside or  face resistance and then come back to test the bottom.

IDBI Channel.JPG

Upside Breakout in IDBI will be signalled if the stock crosses =>> 57 levels  On breakout we may get to see the stock touch the upper target price of  65 levels . If it is not able to cross this reistance levels in one or two days then it will test the lower channel border line thus giving us a possible target of 48 levels .

Avinash MB

 

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