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IDBI BankIDBI Banks firstly had a breakout of the cup and handle formation. It was immediately followed up by the flag breakout pattern. These breakouts have led the stock to rally for more than 33% in merely 7 trading sessions. The stock opened up with a circuit of 20% on NSE today but witnessed a strong sell off due to several factors such as rising US bond yields, imposing lockdown in several districts of India, global markets ending up in red etc. This cool off was seen in many stocks as the indexes ended up in red despite opening up with more than 1% gain. The reasons for stock selection are as follows: 1. RBI has removed it from its PCA framework. It was placed under it in May 2017. Although this removal is subject to many clauses, however, it is expected to increase the business of the bank. 2. The bank appears to be a perfect fit for the theme of privatisation of the Indian Government. Currently, GoI holds close to 45% of the stake in the bank and it is expected that the holding will either be diluted or sold off to the private players. 3. LIC which acted as a saviour for the bank and holds a 51% stake in the bank is also looking to sell its stake under the privatisation theme of GoI. 4. The stock has seen unusual volumes in the past 7 trading sessions. ** Point number 3 and 4 are speculations based upon several news articles or sources. Levels (Considering the volatility in the market): Buy - CMP (if sustains the level of 42) or 40 (if retraces) Target - 49+ SL - 38 NOTE: These findings and levels are purely based upon the knowledge and understanding of the post publisher. The idea here is to predict the future price movements hence, please do not consider this as stock advice or recommendation.
NSE:IDBILong
by mishraparimal09
Šiaulių Bankas (SAB1L) | Wait For a Breakout For Good Profits!Hi, Šiaulių Bankas is the largest Lithuanian capital bank, a steadily and consistently growing financial partner, paying special attention to business financing and consumer financing solutions. Šiaulių Bankas serves its clients in 60 client service units in 37 cities and towns throughout Lithuania. The Bank was established in 1992. Šiaulių Bankas Group includes subsidiaries, which operate in the fields of leasing, life insurance, and real estate. Technically, the price of SAB1L has climbed back to the major resistance area which stays at around €0.54 - €0.56. It has held the price since 2010. So, in 11 years the price hasn't seen higher prices than the prementioned level but luckily it has drawn a bullish chart pattern and we are really close to getting a breakout of that. The bullish chart pattern is Inverted Head and Shoulders and it gets activated after a Monthly or Weekly candle close above €0.54 - €0.56. Actually, it gets activated after a candle close above the chart pattern neckline (we have a tiny breakout of that) but still, a bit safer would be to wait just a little bit more. IF we get a Weekly or Monthly candle close above the mentioned level then basically there are no obstacles for price growth. Wait for a candle close, wait for a small throwback and the targets are: 1) €0.715 - around 35% profits 2) Chart pattern target €1.000 - around 90% profits 3) For holders - 150%+ Currently, there is also a bit riskier scenario on the table: We have a 4H and Daily candle close above the counter-trendline, supported with 4H and Daily EMA50. So, you can SLOWLY start to add some positions but keep in mind it is risky because the price approaching multi-year resistance level at €0.54-€0.56. To buy from the current prices you should have some info from inside :D Stay healthy, Vaido
OMXVSE:SAB1LLong
by VaidoVeek
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