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Why IDBI?
IDBI is at 52-wk lows. With favourable volumes, +ve divergence in MACD and ROC in late trades, and little headroom to fall, it seems a good bet to me. If the govt. petrol hike is about Rs. 7-8 (15%) that I think is already discounted. Anything more will have -ve effect on the mkts. Price rise of about 8-10% that is about Rs. 5 or less may have +ve effect on the mkts.
IDBI(83.1) SL below 82, 81 final
Tgt 84.5, 86
When (and if) Nifty touches 4760-80 levels, sell your longs. Beyond 4820 is optimistic. All the best.
Paresh
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