federal bank looks bearish in short to medium term

In daily, first it broke the horizontal support, then moved up to touch the broken support, now acted as a resistance, and price moving down, after touching the horizontal resistance and trend line resistance.

sl - 113, 1st tgt - 103.

after a long consolidation, BB expansion and BB is moving down.

Note: this is not a fno call, I am sharing my view only.

Trade active:

going down closed at 105.30

Trade closed manually:

long term trend is quite bullish here, in weekly, it is near ascending channel support.

It is better to close the short position here.

Comment:

in weekly, after bouncing from the ascending channel, price moving up steadily, till now 113.60,