Indian Bank: Major Breakout Above ₹615 with Strong Quarterly Numbers | Target ₹700+

Indian Bank has delivered a strong breakout above ₹615, backed by solid financials and delivery volume. With strong resistance now breached, the stock shows potential to reach ₹700 in the short to medium term.

5/17/20251 min read

📊 Sector Overview:

  • Stock Name: Indian Bank

  • Symbol: INDIANB

  • Exchange: NSE

  • Sector: Banking

  • Industry: Public Sector Bank

  • Current Price: ₹594

  • Target Price: ₹700

  • Type: Breakout Stock

  • Close Within 52-Week High Zone: ✅ Yes

  • Stock Outperforming Benchmark Index (1 Week & 3 Months): ✅ Yes

  • Stock Outperforming Sectoral Index (1 Week & 3 Months): ✅ Yes

  • Momentum Score (1M 3M 6M) in Bullish Zone: ✅ Yes

  • Delivery Percentage:

    • 1 Month Average : ~46%

    • 14th & 16th may : ~66%

🔎 Why this Sector Looks Strong?

  • Major breakout above ₹615, which was a long-standing resistance since July 2024

  • Shows potential to touch ₹700+ if breakout sustains

  • All-time high of ₹632 has already been tested—indicates more upside

  • Strong delivery volumes (above 60%) confirm institutional interest

  • Solid financials with significant YoY PAT growth

  • GNPA and NNPA show continued asset quality improvement

  • Outperforming both benchmark and sectoral indices

🧾 Latest Financial Performance (March 2025 Quarter):

  • Quarterly Net Profit: ₹2,296 Cr vs ₹1,520 Cr YoY

  • Gross NPA (GNPA): 3.95% vs 4.47% QoQ

  • Net NPA: 0.43% vs 0.53% QoQ

🎯 Target, Stop Loss & Time Horizon:

  • 🎯 Target Zone: ₹690 – ₹710

  • 🔒 Stop Loss: ₹570

  • ⏳ Time Horizon:

    • Medium-Term: 2.5-3 months for ₹103

🧭 Technical Snapshot

  • Breakout Level: ₹615

  • Resistance Broken: Yes (July 2024 level)

  • All-Time High: ₹632

  • Current Price Action: Above breakout zone with volume support

  • Momentum Indicators: Bullish (1M, 3M, 6M)