I did an analysis on IDBI Bank just this day and bought 4,000 shares on 29th August. I intend to hold it very long term! So I can comment on your IDBI Part.
I follow many strategies, but this stock is a perfect example of the shopkeeper strategy.
Year High/Year Low = 95.70/47.40 =2.02; I generally always buy stocks share whose Year High/Year Low is less than 2. I made an exception here.
There is a steep increment of profit from previous year’s. So I am OK to take a chance on that .02 factor looking at this. There are two promoters. Government of India and Life Insurance Corporation of India held approx. 80.16% of the shares.
FIIs and DIIs own 9.01 and 2.58 respectively.
They give nice dividends too! It has been a long time since their last dividend so I am assuming another date is near!
3 years DMA of stock is 71.1572 as of I am writing.
200 DMA of IDBI Bank Ltd is 71.02. Recently this stock gives a positive breakout over this 200 DMA.
The list can go on and on. But I think amongst, BSE Group A or BSE 100 index stock this is the best blue chip stock for holding period of 1 year.
I do not put stop loss. I will not think to close this trade in losing situations within this one year but I will lose this and party with the money if the stock reaches 90 INR per share.
I am already being in profit. I bought in the middle of that red bar when it touched the Bollinger band as well as the STOCH (14). Now I am happy that it is about to touch and flip the parabolic SAR but wait for tomorrow’s noon time as it is Doji there and there is a huge probability of slight reversal 🙂
But buy it anyway. But, IDBI is facing reversal as it is near parabolic SAR but it is temporary! Just wait for some more green bars and dip in.
The IDBI Stocks just stepped into greenery 🙂
When I shared my views here it was trading at 72.15. If you had bought you must be having more greenery. Cheers!