FEDS trade ideas
A modified analysis of Federal Bank due to Result impactThe 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.
Bullish perfect bat in Federal BankWe see a very precise Bullish Bat forming in Federal Bank. Entry points and PRZ are marked on the chart. Recommend taking a position that allows partial profit booking along the way. You want to profit first at the 38.2% retracement of the CD leg and then finally at the 61.8% of the CD leg. SL would be below the X point.
Federal Bank reversal zone based long119-121 zone which initially acted as resistance converted to supported from the closure of 26/10/2017's candle.
Can go long expecting retracement of the fall from 127
Wait for confimation of breaking 121 barrier before going long.
Will add target details once trade confirms
Federal bank : Inverted H&S Breakout+Doji starScrip after company showing good Q2 results and beating estimates, has managed to see breakout with good volume but bullish surge confirmation is yet awaited as Doji star has appeared on top of the bullish engulfing candlestick
Doji star indicate neutrality in price and indecision amongst traders and can be said to be sign for trend reversal so waiting for confirmation here could be quite necessary
Planning to Enter above 127-129 for aiming for price target and beyond as defined in charts
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Going as anticipated.. :)
Federal Bank... Result out. Hurdle at 123. Federal Bank... Result out. Hurdle at 123.
Break and close above 123 will take to
128---132+++ mark in days to come
Support and stop loss below 116.00 on closing basis.Federal Bank -
(very strong results + asset quality improves)
Net Profit at Rs 263.7 cr Vs Poll of Rs 251.6 cr
NII at Rs 899 cr Vs 861.10 cr
Impact : Positive