Federal Bank has been a deep correction since Oct' 17. This correction may have ended as a double combination correction. The possibility that the double combination correction may evolve as a triple combination correction has been eliminated as the prices have crossed the crucial 105 level which was the high of the X-wave
of the double combination correction.
The momentum indicators on weekly charts are also hinting that the momentum has turned up. We may expect good gains on Federal bank in the coming weeks. We expect the prices to hit new all time highs above 127.75.