The stock has been moving within a range for quite a few months.
However, the setup in the current market and its bullish RSI levels looks ripe for BreakOut for this stock if it crosses and sustains over 90.
Expected levels are 97 and 104.
Keep a tight stop loss, probably around 86 levels once the trade is initiated. Or you can adjust basis your own risk...
share name : federal bank
- share is forming head and shoulder pattern
on larger time frame - montly
- 110 is the huge resistance for the share b
- in past we can see a massive fall from 110
- if share fall again from 110 we can
see support around 67(right shoulder)
- we can initatite a buy around 67 with sl
of 60 max - targets 180 (max)
Keep an eye!
- Key levels have been marked
- Volume Expansion has happened
- Breakout after almost 7 months of sideways consolidation
Keep an Eye!
This is not a recommendation, do your own analysis of this idea before putting your money in it
Buy at CMP- 93.6 or around 90
Target- 98.2, 104.7, 110
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Charts and views are only for educational purpose.
federal bank has been everyone's watch out for the pat 4 months since its been trying to cross the 90 support range, if HDFC crosses its support, then federal bank will cross the support as the big bank will move the bank nifty which eventually pushes the small bank to its top. have a watch on it.
Please refer all the chart noting's, I have explained most of the things in the chart.
Target shall be 110-130 levels and SL will be breakdown below 50EMA on a closing basis.
If you are an Investor - Invest Patiently
If you are a trader - Trade cautiously
NSE:FEDERALBNK is facing multiple Resistance on Weekly Chart.
Currently trading near its long Down Trend Resistance level.
Also stock is taking support on 50 EMA (Week).
Stock is poised at crucial point now.
If Federak Bank gives BO from its Trend line Resistance & sustains, then we can see a Fresh long term upmove in stock.
FIrst target of upmove will be ...
***** It's just for an educational purpose and so you must also follow your own technical analysis before taking up the trade ******
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...
As shown in Chart Fed Bank has given Cup and handle breakout in multiple time frame with very good volume ...
Levels are already mentioned in the chart.. Looks very good above : 92.50 for the target of 120+
Things to remember
1) Always wait for Confirmation, dont just jump in running candle
2) Condition for breakout is ... it should break the range with...