Federal - Moving towards the upper bound

Sep 30, 2017

FEDERALBNK federal bank has started moving back to its upper bound

The stock is also moving towards builing a bullish triangular pattern. Once the top (121.5) is broken stock will go for breakout

Buy Federal Bank above 114
Target 119 and above
SL 111.30

Oct 6, 2017

Note

Good jump today

Oct 9, 2017

Trade active

Keep SL of 116.40

Oct 10, 2017

Note

Federal bank is making very good bullish triangle. It has reached a crucial point from where it can give a breakout or take a dip before starting the breakout journey. The stock also created a dogi today.
Keep SL of 116.50 and continue in trade. If you are aggressive on booking profit then either book the profit here or keep an SL of 117.40 to take on your chances.

Oct 11, 2017

Trade closed: target reached

Reached target. CMP 119.25. High 119.95
Profit -> 119 - 114 = Rs 5
If you traded in 1 lot then your profit is -> 5 * 11000 = 55000. Enjoy !!!

Those who want to take risk and continue the trade should keep a strict SL of 117.40. How ever I'm a bit skeptical as the stock is making dogis indicating indecision in market. Probably it will consolidate to 113 level once before making the breakout journey