FEDS trade ideas
Big Gains for Federal Bank likely in the coming weeks!Federal Bank has been a deep correction since Oct' 17. This correction may have ended as a double combination correction. The possibility that the double combination correction may evolve as a triple combination correction has been eliminated as the prices have crossed the crucial 105 level which was the high of the X-wave of the double combination correction.
The momentum indicators on weekly charts are also hinting that the momentum has turned up. We may expect good gains on Federal bank in the coming weeks. We expect the prices to hit new all time highs above 127.75.
Disclosure: Invested.
FEDERAL BANK - If sustain above 100.5 , likely to reach ATH 127+FEDERAL BANK: AS long as trades above 100.5, likely to move towards ATH 127 + in coming weeks.
Can Buy between 105 -102 with SL 100 closing.
Move can be volatile since {R} at every 2-3 Rs. up move . Levels given in chart.
Validity: View invalid if close below 100.
NSE:FEDERALBNK
DISCLAIMER: I am not a Qualified Technical Analyst , please do your own analysis before taking any Investment decisions.