Get started
ParamjitMahapatro

EW analysis of Federal Bank in longer time frame.

FED BANK (NSE:FEDERALBNK)  
ParamjitMahapatro Updated   
NSE:FEDERALBNK   FED BANK
Trend Analysis Elliott Wave elliottwaveprojection impulsewave extendedthird
6
8
trendanalysis elliottwaves elliottwaveprojection impulsewave extendedthird
EW analysis shows it is in wave in longer time frame. Currently sub wave 5 of sub wave (3) of wave is going on here.

probable target for sub wave 5 comes around 140-150 levels.
snapshot

long term tgts derived from fib projections are here,
snapshot

Trade active:
fed bank looks quite bullish in daily, BB is expanding and price is riding upper BB.
snapshot
Trade active:
going good, till now 120.25
Comment:
price respecting the overhead resistance.
snapshot
Comment:
in daily, there is a probability for abcd pattern
snapshot
Comment:
price following abcd pattern , today its up by 3%.
Trade active:
follow up chart on ABCD pattern
snapshot
Comment:
breakout with good volume, from horizontal resistance, now retesting the breakout level.
snapshot
Comment:
cmp - 109, currently it is in horizontal channel support, bounce back likely to happen.
snapshot
Trade active:
looks like flat correction is over, and regular bullish divergence formed at horizontal support

snapshot
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.