Federal Bank looking strong for upside Federal Bank has been in accumulation zone for the last 40+ trading sessions, bouncing around the 50-58 rupees range. We had a good breakout over 60 rupees last week but with the negative news in the market with AGR uncertanity and Loan Moratorium. Bank Nifty stocks have taken quite a beating in the last 3-5 trading session from the recent high.
This is likely to be the case for a few more days until the Supreme Court comes to a decision on the Loan Moratorium in the coming weeks.
Keep a note of the volume spikes seen in Federal Bank. Federal Bank is in a very good position. Verify yourselves!
