Buy IDBI for target of Rs 154-157: Religare

MUMBAI: Birendrakumar Singh, technical analyst, Religare Securities is of the view that IDBI has given a breakout of the “Flag” pattern. He advises to buy the stock for target of Rs 154-157.

“IDBI has been trading side ways for past six trading sessions and formed a “Flag” pattern. On Wednesday it has given a breakout of the “Flag” pattern. The trend is positive, maintain a stop-loss of Rs 140 for long position target of Rs 154-157,” Singh said.