FEDS trade ideas
Swing Trade 13 July 2021 (Paper Trade)BFSI is Underperforming sector.
Daily TF Cup and Handle Formation with Volume Expansion.
D and W RSI supportive
MA In trend.
Info
Federal Bank Limited is a major Indian commercial bank in the Private Sector, headquartered in Aluva, Kochi. The bank has more than 1,200 branches spread across different states in India
Federal Bank Cup and Handle BreakoutAs 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 big green candle with good volume
3) There is 90% chance after a successful breakout, it should comeback to Re-test the support, which was once resistance
4) Always keep trailing Stop loss.
Note : I am still learning .. let me know if i missed anything
Disclaimer : This is purely for education purpose only
Federal Bank - LongFederal Bank - Long
Buy : ₹ 86 - ₹ 84
Target: ₹ 88.25, ₹ 89.45, ₹92.55, ₹ 94.6
Support: ₹ 84.35 , ₹ 81.20
Once the Bank Nifty is reversing upward, this stock will also rise up.
Invest and Trade Wisely! Good Luck!
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