Let IDBI Bank overcome the 125 level: Vijay Bhambwani, BSPLindia

In a chat with ET NOW, Vijay Bhambwani, Author, CEO, BSPLindia.com, talks about IDBI Bank.

What is your call on IDBI Bank?

IDBI would have some kind of resistance at 125 levels and that is the kind of level which is a critical hump because it would be like a double top. Unless it overcomes this level, every time it inches higher from here towards a 115-120 levels there would be profit taking pressure on the upside and declines are largely confined to probably the 95 or 94 levels that is where I would buy a fresh hoping for a bounce of may be Rs 7 – Rs 8 as a tradable kind of a strategy.