🏦 IDBI Bank – Weekly Chart | Structural Breakout Analysis

🧠 Big Structure Timeframe: Weekly Pattern: Large Cup Formation (12–15 months) Neckline / Supply: ₹107–109 Current Close: ~₹108.8 (weekly) This is not a news-based spike — it’s a base → expansion transition. ☕ Cup Anatomy (Why This Is Powerful) Left Side Rally into ₹105–110 zone (early 2024) Strong rejection → distribution Base Deep rounded bottom near ₹70–75 Multiple tests = absorption Price respected 200-week MA (red line) → long-term support confirmed Right Side Higher lows from ₹75 → ₹95 → ₹105 Smooth curvature = institutional accumulation 🚀 Breakout Quality ✅ Weekly close at resistance ✅ Volume expansion (73M+) ✅ Above long-term MA ✅ No sharp selling wicks This is acceptance above supply, not false breakout behaviour. 🎯 Targets (Measured Move) Cup depth ≈ ₹35–38 Level Significance ₹107–109 Breakout & retest zone ₹120–125 Target 1 ₹135–145 Target 2 (your marked zone – perfect) ₹155+ Stretch target if PSU banks trend Your ₹144–146 projection is technically justified. 🛑 Risk & Trade Management Best Approach (Positional) Accumulate on dips ₹103–106 Add on weekly hold above ₹110 Invalidation Weekly close below ₹95 Structural failure only below ₹85 No need for tight SLs — this is weekly structure trade. 🧩 Sector Context (Very Important) PSU banks in re-rating phase IDBI special situation (stake sale / strategic interest) High public participation → momentum friendly Structure + theme + liquidity = ideal positional bet