IDBI Bank Limited Stock Forecast
Green day on Monday for IDBI Bank Limited
(Updated on Apr 22, 2024)
The IDBI Bank Limited stock price gained 2.44% on the last trading day (Monday, 22nd Apr 2024), rising from ₹84.00 to ₹86.05. During the last trading day the stock fluctuated 1.71% from a day low at ₹84.90 to a day high of ₹86.35. The price has fallen in 6 of the last 10 days and is down by -3.1% for this period. Volume fell on the last day by -754 thousand shares and in total, 5 million shares were bought and sold for approximately ₹433.86 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -3.26% during the next 3 months and, with a 90% probability hold a price between ₹72.93 and ₹89.07 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
IDBI.NS Signals & Forecast
The IDBI Bank Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at ₹85.73 and ₹84.49. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, April 08, 2024, and so far it has fallen -3.75%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for IDBI Bank Limited stock
IDBI Bank Limited finds support from accumulated volume at ₹84.20 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved ₹1.45 between high and low, or 1.71%. For the last week, the stock has had daily average volatility of 3.26%.
Our recommended stop-loss: ₹82.47 (-4.16%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 9 days ago.)
Trading Expectations (IDBI.NS) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect IDBI Bank Limited to open at ₹85.77, and during the day (based on 14 day Average True Range), to move between ₹82.81 and ₹89.29, which gives a possible trading interval of +/-₹3.24 (+/-3.76%) up or down from last closing price. If IDBI Bank Limited takes out the full calculated possible swing range there will be an estimated 7.52% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹87.15 (1.28%) than the support at ₹84.20 (2.15%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Earnings coming up
IDBI Bank Limited will release earnings BMO on Saturday, April 27, 2024. We will update the financials statements for IDBI Bank Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.36% in the first trading day after earnings release.
Is IDBI Bank Limited stock A Buy?
IDBI Bank Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.429 Hold/Accumulate Unchanged
Predicted Opening Price for IDBI Bank Limited of Tuesday, April 23, 2024
| Fair opening price April 23, 2024 | Current price |
|---|---|
| ₹85.77 ( 0.329%) | ₹86.05 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IDBI.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 87.22 | 1.36 % | |
| R2 | 86.66 | 0.712 % | ||
| R1 | 86.32 | 0.314 % | ||
| Current price: | 86.05 | |||
| Support | S1 | 85.21 | -0.97 % | |
| S2 | 84.87 | -1.37 % | ||
| S3 | 84.32 | -2.01 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 93.25 | 8.37 % | |
| R2 | 87.20 | 1.34 % | ||
| R1 | 87.15 | 1.28 % | ||
| Current price | 86.05 | |||
| Support | S1 | 84.20 | -2.15% | |
| S2 | 83.50 | -2.96% | ||
| S3 | 76.40 | -11.21% |
IDBI Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 06, 2023 | Jul 06, 2023 | Jul 06, 2023 | ₹1.00 | 1.71% |
| 2 | May 26, 2015 | Aug 04, 2015 | Sep 09, 2015 | ₹0.750 | 1.33% |
| 3 | Apr 30, 2014 | Jun 26, 2014 | Jul 24, 2014 | ₹0.270 | 0.291% |
| 4 | Jan 13, 2014 | Jan 23, 2014 | Jan 31, 2014 | ₹0.725 | 1.31% |
| 5 | Apr 25, 2013 | Aug 29, 2013 | Oct 04, 2013 | ₹3.50 | 5.72% |
FAQ
Click here for our free guide on how to buy IDBI Bank Limited Stock.
