IDBI Bank Ltd. – Bullish Breakout in Play

🔍 Quick Technical Snapshot: Current Price: ₹101.00 (+10.99% weekly gain) Structure: Long-term ascending channel since mid-2021. Recent breakout from falling wedge signals a bullish reversal. Support Reclaimed: ₹80.38 – critical long-term base now acting as strong support. 🔑 Key Levels: Immediate Support: ₹98.90 Major Support: ₹80.38 Long-Term Support: ₹66.63 Immediate Resistance: ₹105.00 Next Resistance: ₹110.00 – ₹112.00 (upper channel boundary) 📈 Bullish Case: Breakout confirmed with volume expansion → Strong buying interest. Price is holding above key moving averages (not shown but inferred). If ₹98.90 holds, likely to test ₹105 – ₹110 soon. 📉 Bearish Case: Failure to sustain above ₹98.90 may lead to pullback toward ₹80.38. Below ₹80.38, the structure weakens. 📌 Summary: Timeframe Bias Key Watch Short-Term Bullish ₹105-₹110 Target Medium-Term Bullish ₹110-₹112 Channel Test Long-Term Bullish Trend intact above ₹80.38 👉 Final Take: Breakout with volume + channel support = Favorable for continuation. Dips near ₹98-₹100 could offer opportunities. 📢 Disclaimer: This is for informational purposes only. Nothing herein is a buy/sell recommendation. I may or may not hold positions in the stock mentioned. 🧑‍💼 Rajneesh Sharma is a SEBI-registered Research Analyst (INH000020332). 📄 Investments are subject to market risks. Read all related documents carefully.