Cup and Handle + Ascending Triangle Pattern in Federal Bank
Federal Bank formed CUP and Handle + Ascending triangle pattern
Analysis:
1. CMP 85.55 Cup and handle pattern formation already completed and Breakout is pending
2. Also I see ascending triangle pattern
3. Can add CMP and until 79 remaining qty can be added after breakout
4. Target for this candidate T1- 97, T2 - 110, T3 - 120, T4-140
5. Stop loss I would say 73 for aggressive position and 65 would be for risky position(both weekly close)
6. For additional confirmation RSI above 60 level and MACD flat at present
As per this analysis Federal Bank will make new life time high very soon
Disclaimer: Views are for educational purpose only
You are welcome to post your comments
Analysis:
1. CMP 85.55 Cup and handle pattern formation already completed and Breakout is pending
2. Also I see ascending triangle pattern
3. Can add CMP and until 79 remaining qty can be added after breakout
4. Target for this candidate T1- 97, T2 - 110, T3 - 120, T4-140
5. Stop loss I would say 73 for aggressive position and 65 would be for risky position(both weekly close)
6. For additional confirmation RSI above 60 level and MACD flat at present
As per this analysis Federal Bank will make new life time high very soon
Disclaimer: Views are for educational purpose only
You are welcome to post your comments