Federal Bank has been trading into the triangle channel pattern for the past 2 - 3 months and now it has broken the pattern. In the chart I have mentioned the entry, stop loss and targets.
Two ways that the stock can move up.
1)Stock can move with retracements
2)If the buyers are huge stock can move violently upwards.
caution - Trade with stop loss.
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.