IDBI

Breaks Down Sharply Bears Take Full Control

have turned strongly bearish after witnessing a sharp breakdown accompanied by heavy selling pressure and a steep decline of nearly 16%. The chart shows a decisive fall below key support levels, indicating panic selling and a shift in short-term sentiment toward the downside. The RSI has slipped deep into the oversold zone near 22, reflecting strong bearish momentum, while rising volumes confirm aggressive distribution by market participants. In my view, unless the stock manages to quickly reclaim the ₹85–₹90 zone, it could remain under pressure and may extend its decline toward the ₹70–₹65 levels in the near term.