Weekend Study No. 3 #FEDERALBNK
Stock is in uptrend and gave major break out around 110 levels which would now act as a great support. 110-130 is the range. May consolidate on this range for a few days before giving a major break out for Target of 200 & much more. Keep in watchlist!
***** It's just for an educational purpose, So you must also follow your own technical analysis before taking up the trades ******
Aggressive traders enter at the breakout and conservative traders may give entry after retracement (Retracement is optional, we cannot expect every stock to take a retest after the breakout, it may also continue to have...
* NIFTY INDEX : RESISTANCE AT 17550 - STRONG SUPPORT AT 17000.
> After two day rally, Nifty may go for consolidation mode. Banking Sector rally may continue, that will make nifty to break 17600.
> Global Market seems to be in consolidation Mode or Profit Booking after huge rally for past 2...
The stock trading at its previous years all time highs of october 2017
On weekly time frame WTF
If the stock break its levels of 128 at closes it above on WTF
then we have to wait for some consolidation on that level and breakout
then there was a good entry point in this stock
ALWAYS FOLLOW YOUR TRADING & R:R RATIO
HAPPY TRADING NSE:FEDERALBNK
Stock looks super hot for coming days as long as holding 104-105 zone on Weekly Closing Basis. 125 is the area to watch out for. Once that's taken away, it can be a 2X in no time. Would love a dip here! :-)
Federal Bank Double Bottom almost 80% achieved. Now, It entered into secondary trend. Day open close bar seems strong bullish & act a support on secondary trend. If price break & sustain above 93, It will move towards upwards. otherwise it will move sideways below price engagement.
Why? Last 3 quarter result is very good.
Expecting a good move towards 115+
Revenue increased and Profit also improving
RSI is 3 h bullish divergence
above 50 EMA but below 200 EMA. But closing above 200 EMA then we can see 110 in few days