FEDERAL BANK LTD - 08/April/2021 - Monthly - Consolidation and downtrend - Monthly Bearish Engulfing last month - Looking at the market scenario (BankNifty is uptrend) looks like it will invalidate the bearish engulfing as it happened previously during March 17.
Weekly - It is Uptrend going through a Channel Pattern. - I am expecting it to continue the bullish pattern, considering the support at 79.00 and the target price will be 97.00
Daily - I have Drawn a Rectangle. - This is a double bottom pattern for the previous downtrend. - To trade double bottom entry is at 78 Stop loss 74 and the 1st Target will be at 83
I am in for the double bottom and weekly uptrend channel. Will keep you updated.