Federal BankFederal bank on daily chart looking bearish. After the recent rally it is facing upper trend line and the resistance. It can test 58-61 levels.
Federalbank
A TUTORIAL ON FEDERAL BANKPOINT A - it took 14 days to reach the peak of 47
point B - it took 32 trading hours
Point C - it took more than 100 trading hours to take out the peak of A
This means that the whole ABC are corrective waves and sooner or later 35.5 will be breached and can go lower
conclusion - Do not invest in FEDERAL bank
Disclaimer - my view , my elliott view
Can Federal bank go below 67 ? An elliott wave perspective !Federal bank recently gave an up-move from 67 to 97 (more than 45 % up move in a short duration of 3 month )
Congratulations to all those who analysed and traded well
Every trader has strengths and weakness.
“You have to learn the rules of the game. And then you have to play better than anyone else ”-albert einstein
Now coming to the analysis ,
The up-move looks to me as an ABC correction unless the market proves otherwise
However , Federal bank is presently @ a demand zone where some consolidation can take place
But who knows, that may change…
Waiting for the critical comments from esteemed users
Federal bank 15 minute chart !Is it an Expanding diagonal pattern in its final stages !
can a throw over happen ?
can Federal bank go below 85 in the near future
