Foram_Chheda_CMT

Buy FEDERAL BANK for upside potential of 7%

Long
BSE:FEDERALBNK   FEDERAL BANK LTD
NSE:FEDERALBNK

After prolonged corrective move over past couple of months, the stock is attempting to reverse it trend. Stock is inching higher penetrating its multi month falling trend line . Weekly MACD remains in continuing buy mode. RSI is seen breaking out from a pattern and shows bullish divergence . OBV shows a sharp rise along with an attempt to breakout.

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