IIFL is bullish on IDBI Bank and has recommended buy rating on the stock with a target of Rs 82 in its September 11, 2014 research report.
IIFL`s research report on IDBI Bank
“The corrective phase in IDBI Bank is over and the stock is beginning its original upmove which was seen in early January 2014. Since second week of June, the stock has declined continuously. It has corrected from Rs116 to a low of Rs74. However, stock has seen consolidation at lower levels around its 200-DMA, suggesting that the stock is willing to move higher along with other banking stocks. It already saw strong move in yesterday’s trade and we expect this stock to continue its recovery. (Duration 5 days),” says IIFL research report.
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