Not gonna lie, this move feels a bit crazy.
Stock’s down ~37% from Jan highs and like ~28% in just a few sessions… and it doesn’t even look like it’s trying to find support yet.
The recent move in IDBI seems to be almost entirely tied to the privatization narrative breaking down.
Which raises an important question- was the entire rally primarily driven by that one expectation? Because the moment that story weakened, the unwind has been immediate and sharp.
What stands out is the nature of the decline. There’s been no real distribution phase, no gradual topping pattern, just a near vertical move down. and it doesn’t feel like a standard valuation correction.
These are the kinds of charts that often look attractive too early, especially when the move has been this sharp.
