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Unite Technologies Financial

17th Feb · SEBI-Registered Analyst

Technical Analysis IDBI Bank Limited

The stock

IDBI
is showing signs of a strong bullish recovery after a long period of consolidation. After hitting a low near ₹65–₹70 in early 2025 the stock has formed a higher high and higher low pattern. This indicates that buyers are consistently stepping in at higher price levels. The stock recently cleared a significant resistance zone around the ₹105–₹108 level. It is currently trading near ₹111.46 holding above that previous hurdle. The next major challenge is the recent peak near ₹118–₹120. A sustained move above ₹120 could trigger a fresh rally toward the ₹130+ zone. Strong Support the breakout zone at ₹105 now acts as immediate support. If the price falls long-term support is visible around the ₹95 mark. Looking at the price movement from mid-2024 to now, the chart resembles a large Rounding Bottom or Cup pattern. This is typically a bullish reversal or continuation sign. If the stock stays above ₹108 the target remains the previous high of ₹120 and beyond. A drop below ₹100 would weaken the current momentum and might push the stock back into a consolidation range. Technical analysis is based on historical price patterns and does not guarantee future results. Always manage your risk with a proper stop-loss.

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