Can the death cross happen?Though it's not very accurate for every stock, whenever there's a death cross on hourly chart, the price has gone down. If that happen, it may show levels around 77. An up move from that level would be a good idea to long. But yesterday's up move has averted it for now. May show upside of 88 and 92. SL 81.50. A sign of concern is that RSI going into over bought state but MACD is going bullish
Risk-o-meter Low
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I am not a financial advisor. I just have 14 years of experience in trading.
Federalbank
Cup and Handle + Ascending Triangle Pattern in Federal BankFederal Bank formed CUP and Handle + Ascending triangle pattern
Analysis:
1. CMP 85.55 Cup and handle pattern formation already completed and Breakout is pending
2. Also I see ascending triangle pattern
3. Can add CMP and until 79 remaining qty can be added after breakout
4. Target for this candidate T1- 97, T2 - 110, T3 - 120, T4-140
5. Stop loss I would say 73 for aggressive position and 65 would be for risky position(both weekly close)
6. For additional confirmation RSI above 60 level and MACD flat at present
As per this analysis Federal Bank will make new life time high very soon
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