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Apr 05, 2013, 11.45 AM IST | Source: Moneycontrol.com

Buy IDBI Bank above Rs 82.50; target Rs 87: IIFL

IIFL is bullish on IDBI Bank and has recommended to buy the stock above Rs 82.50 with a stop loss of Rs 80.50 for a target price of Rs 87, in its April 05, 2013 research report.

IIFL is bullish on IDBI Bank and has recommended to buy the stock above Rs 82.50 with a stop loss of Rs 80.50 for a target price of Rs 87, in its April 05, 2013 research report.

"IDBI Bank has completed its downfall and has created a medium term bottom around the levels of Rs 79. From the current level, the stock can only move towards one direction, i.e. upwards. The daily RSI has also given a positive divergence, indicating that price would start moving up. The bullish formation is confirmed after the stock gave a close above its 10-DMA with higher than average volumes. (Duration 5 days)," says IIFL research report.

Public holding more than 90% in Indian cos

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To read the full report click here

READ MORE ON  IIFL, Recommendation, IDBI Bank
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