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kalyanganguly
Aug 30, 2020 4:52 PM

Federal Bank - Ascending Triangle bullish breakout Long

FEDERAL BANK LTD.BSE

Description

Note: This is for educational purpose only.

There is an ascending triangle bullish breakout with high volume. RSI is above 70 which indicates bullish momentum but there is a possibility of consolidation/ side ways movement to RSI to cool off before the next up-move. The breach of previous swing low will act as Stop loss level.
Comments
ManojKumarBanga
Analysis was interesting. RSI was showing overbought signal. On 31st Aug it went downwards suddenly for the whole sep 2020 it was going downwards and now facing the resistance at 54-54.50 zone. They trapped the retail investors on 28 augst. Please share your valuable views.
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