FEDERALBNK Next Move will be 95
On the Daily chart the Elliott Wave analysis suggest that we have a possible formation of Ending Diagonal for W.C (Circled) of W.y .
will like to play this in OPTIONS by buying X strike (already bought ) for target of 1:5 ( loose 1 rs , gain 5 rs ) stop loss near 86 for 93 first tARGET !! & above 93 if susutains !! one way 104 ..
Federal bank is at crucial long term breakout retest. Suitable only for patient and long-term based investors. For short term, strict SL is 85
Breakout done. See the chart for target. Vijayaraghavan, Kovilpatti.
Federal bank looks weak after reached the head and shoulder target. Support 91 is strong. if it breakdown, it may go around 84 range. It may take few weeks or upcoming week. indicators are in bearish mode only so it helps to breakdown the support level. Stoploss: Stright line mentioned in chart keep that on closing basis Vijayaraghavan, Kovilpatti.
The resistance level is the key and once it is broken, wait for the next signal. If it goes higher than 105.65 on 19th Jan, then in less than 2 weeks, it can achieve first target @ 122.40 or above. Second target would be the same as I have mentioned in my first chart analysis.
Bandbollinger forms a narrow range in weekly chart and Macd lines might cut on coming week. In daily chart ADX,RSI are positive. These indicators may help to break the triangle pattern. From the trend lines(not shown in the graph) targets are 122.3 124.18 126.05 126.5 127.8 129.47 130.45 Stoploss :114.5 Vijay, Inditrade,Kovilpatti
NSE:FEDERALBNK federal bank has started moving back to its upper bound The stock is also moving towards builing a bullish triangular pattern. Once the top (121.5) is broken stock will go for breakout Buy Federal Bank above 114 Target 119 and above SL 111.30
NSE:FEDERALBNK is ready to break its bullish triangular pattern resuming its long stalled bullish trend Buy above 122 Target 127 SL 119.70
I expect the stock to fall till the buy zone and then set off to the target zone. Buy near the buy zone with the Stop Loss mentioned and ride till the target zone.
Note :-RSI Divergence is suggested before entering.
Stock has taken support and bounced back. Closing basis 100 acts as support. May test 115-125.
Pattern---- Bear Flag Zone of interest ---- 116/117 short setup Target --- 113/114 Stop --- As per risk appetite Hit like if this information is useful. Trade safe Regards Bravetotrade
Notes on the chart. Hit like if this analysis is informative. Comments are welcomed. Trade safe. Best Regards Bravetotrade
Federal bank 15 minute chart based on elliott wave
Federal Bank 15 minute chart critical analysis welcome on this script !