IDBI Bank may test Rs 120: Shruti Vora

IDBI Bank may test Rs 120, says Shruti Vora, Antique Stock Broking.

Vora told CNBC-TV18, "I am pretty positive on SBI. It had a decent amount of consolidation around that Rs 1,715 mark and thereafter broke out at Rs 1,800 and currently is trading at about Rs 1,900. But in my opinion you could see a possible 3-4% downside from current levels. But again in the medium-term, if you pick it up once again at about Rs 1,850 you could look out for a target of about Rs 2,050-2,100 levels."
She further added, "Among the smaller names like IDBI Bank etc, I feel that although this stock has been a major underperformer for a while. Now Rs 95 is an intermediate base for the stock and weekly positive diversions does suggest that the stock may test about Rs 120 levels."