Long Position in Federal Bank (Intra and Positional)
Almost breakout can be observerd.
We can wait for confirmation once trend line is broken and pull back taking support where we can take entry i.e. @ nearly 42.75
Target can be 45.65.
On a Daily Time Frame a Bullish Engulfing Pattern at down trend with high volumes from 2 days is also observed.
RSI on daily chart is at 49.23
Need to be Cautious as results for Federal will be released today.
Entry: 42.75
Intra Day Target: 45.65
Positional Target: 49.65
SL: Please adjust according to your risk appetite.
I'm a beginner trader, any suggestions or correction of wrong analysis would be helpful.
We can wait for confirmation once trend line is broken and pull back taking support where we can take entry i.e. @ nearly 42.75
Target can be 45.65.
On a Daily Time Frame a Bullish Engulfing Pattern at down trend with high volumes from 2 days is also observed.
RSI on daily chart is at 49.23
Need to be Cautious as results for Federal will be released today.
Entry: 42.75
Intra Day Target: 45.65
Positional Target: 49.65
SL: Please adjust according to your risk appetite.
I'm a beginner trader, any suggestions or correction of wrong analysis would be helpful.
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