MUMBAI: India Infoline has advised traders to buy IDBI for target of Rs 134.

“IDBI has surged to its 52-week high accompanied with huge volumes on Friday. From the first week of September 2009, the stock is moving with the support of its short-term trendline around Rs 103-104. The daily RSI is already in strong buy mode. The stock is trading well above its short-term moving averages. Based on the above analysis, we recommend traders to buy the stock between the levels of Rs 123-127 for a target of Rs 134. Maintain a stop loss of Rs 119 on all long positions. Increase the positions if it closes above Rs 132,” the report said.