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CA Omkar Bhutada - SEBI Reg IA

28th Oct · SEBI-Registered Analyst

IDBI Bank shows a beautiful Cup Pattern breakout

IDBI
☕ Pattern: Cup Breakout The stock formed a rounding base (cup) from July to October 2025. The breakout neckline is around ₹102.5, which is being decisively crossed today. The volume spike is massive — nearly 5x average volume, confirming strong institutional participation. The 200 DMA (₹73.50) is well below, showing a strong medium-term uptrend foundation. 🎯 Target Projection (Measured Move) Cup depth ≈ ₹102.5 – ₹82 = ₹20.5 Add that to neckline: ₹102.5 + ₹20.5 = ₹123 ✅ Primary Target: ₹120–₹123 ✅ Extended Target (Momentum phase): ₹130–₹135 ✅ Medium-Term Positional Target: ₹145+

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IDBI_2025-10-28_12-37-16.png
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