Since the October of 2017 when the share price of Federal Bank reached 127+ we are yet to see the heady days of all time highs here... the share price had found the 0.786 fib level a difficulty to cross in two previous occasions.... once again, during midweek it has launched an offensive and is trading above the 108 share price (rounding off from 107.90) The view is that as long as 107.90 is not breached on a weekly closing basis we are set to go higher in this counter... with the RBI monetary policy announcement being imminent and the week just starting one needs to make judgement whether to dive in or stay dry.
Trade closed: target reached