Price and trend forecast of IDBI for Tomorrow, Weekly, Monthly
IDBI Bank Limited
Symbol: NSE:IDBI
ISIN: INE008A01015
104.22
As on 2024-07-26
IDBI's Today's Performance
IDBI Bank Limited started the day by opening at 101.15 today 2024-07-26. Its shares reached a high of 106.60 and dipped to a low of 98.46 in intraday. When the markets closed, IDBI’s stock price settled at ₹104.22 per share. Also check out its key support and resistance levels.
IDBI Buy/Sell Targets
Tomorrow, buy IDBI when its price reaches ₹ 104.22 with a stop-loss order at ₹ 99.16. You can set the target price as ₹ 109.28 to capture potential gains. This buy position balances the risks and rewards evenly, aiming for a 1:1 risk-reward ratio.
In the sections below, we will discuss detailed share price target of IDBI for tomorrow's session along with weekly levels. Please note that these share targets analysis is only valid for tomorrow and the current trading week and month.
Important Down levels for IDBI
| Downside Targets | Value in ₹ |
|---|---|
| Tomorrow Down Target 1 | 108 |
| Tomorrow Down Target 2 | 111 |
| Tomorrow Down Target 3 | 116 |
Important Levels for IDBI
| Holding Levels | Value in ₹ |
|---|---|
| Tomorrow Up Target 1 | 100 |
| Tomorrow Up Target 2 | 95 |
| Tomorrow Up Target 3 | 91 |
Based on where the stock opens tomorrow, if IDBI opens on a positive note, our first target will be ₹108. If Target 1 is achieved, we will aim for Target 2 which is ₹111.
But if IDBI falls below the average value of ₹103.09, you can enter a sell side position with target number 1 - ₹100 and second target - ₹95 This average value also act as support and resistance level. When the stock is trading above the average, it will act like support area. Another important thing is, stocks usually get back to this average value when the price trades too far from avg. In simpler words we can consider the average price as a magnet.
Daily Volume chart of IDBI
Looking at IDBI, we've seen a Increasing trend in its trading volume over the past week, which really tells us how active traders have been with this stock.
In terms of its price, IDBI has been on a Upward path, giving us insights how its value changes in the market.
Based on this, the predicted sentiment for IDBI is strong bullish.
Tomorrow's Volume based share price Forecast for IDBI
IDBI's Volume is currently in a Increasing trend, and Price is in a Upward direction. Therefore, we can say the stock is in a strong bullish trend. Volume trend strength over the last month compared to the last week is 292%.
Reversal detection for IDBI
IDBI may trend may continue to be bullish since stock is making higher highs and we can get target of ₹100 in morning tomorrow
| Target 1 tomorrow | 106 |
| Target 2 tomorrow | 108 |
| Target 3 tomorrow | 111 |
Investferry’s trend analysis method detects short term overbought and oversold situations to identify reversal in stocks. Use this as reference for short term counter trend trades.
Combine this trend forecast with IDBI's tomorrow's target prediction and you will have a base for what can be done in the upcoming trading session.
Based on where the stock opens tomorrow, if IDBI opens on a positive note, our first target will be ₹107.73. If Target 1 is achieved, we will aim for Target 2 which is ₹111.23.
But if IDBI falls below the average value of ₹103.09, you can enter a sell side position with target number 1 - ₹99.59 and second target - ₹94.95
IDBI's Weekly Targets
| 1st Up Target | 112.73 |
| 2nd Up Target | 121.23 |
| 1st Down Target | 89.59 |
| 2nd Down Target | 74.95 |
As the week for IDBI ended on bullish sentiments, we can expect further continuation of this sentiment. IDBI's initial target will be 112.73 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 89.59 in the upcoming week.
Weekly OHLC Values
| Open | 88.98 |
| High | 106.60 |
| Low | 83.46 |
| Close | 104.22 |
Week for IDBI started with an open price of 88.98, and the close was at 104.22. IDBI reached the highest of 106.60 and dipped lowest up to 83.46 last week. This indicates a bullish sentiment for the week.
IDBI full month swing targets
| Monthly Up Target 1 | 135.87 |
| Monthly Up Target 2 | 144.37 |
| Monthly Down Target 1 | 66.45 |
| Monthly Down Target 2 | 28.67 |
Targets of ₹135.87 can be expected to be reached in the coming month. Once IDBI achieved this target, we can aim for the next upside target of ₹144.37.
IDBI if fails to hold upside, down targets of ₹66.45 and ₹28.67 can be achieved by end of this month.
For complete three weeks if IDBI is bullish, the stock may decline in the last week on the month as traders usually close their positions. So in this case, you should aim for weekly support level which will act as targets here.
Related Stocks in the Same Sector as IDBI
| Symbol | Name | Industry |
|---|---|---|
| HDFCBANK | HDFC Bank Limited | Banks - Regional |
| ICICIBANK | ICICI Bank Limited | Banks - Regional |
| SBIN | State Bank of India | Banks - Regional |
| LICI | Life Insurance Corporation Of India | Insurance - Life |
| BAJFINANCE | Bajaj Finance Limited | Credit Services |
Summary
IDBI is expected to reach the target of 107.73 in tomorrow's trading session.
After achieving the initial target in IDBI, we will aim for higher targets of 111.23 tomorrow.
However, if IDBI starts to trade below ₹103.09, then we will shift our focus to the sell side and aim for down targets of 99.59 and 94.95.