Anand Rathi Securities suggests buying IDBI

After a deep correction for last six weeks, IDBI exhibits the possibility of a trend reversal in daily and weekly charts, the brokerage says in a technical report dated Feb 14. Rise in volume indicates a medium term buy in the counter. Based on the chart pattern to date, the stock is likely to get support around Rs 98.

Anand Rathi Securities has set a medium-term target of Rs 134 on IDBI and suggests buying the stock around Rs 98-107 with stop loss of Rs 94. If it moves above Rs 134 then it can even touch Rs 146 levels, the report says.

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Author: Austin Comments: 0 comments Date: 17 Feb 2008
Categories: Stock Calls Tags: , , ,
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