FEDS trade ideas
federal bank looks bearish in short to medium termIn daily, first it broke the horizontal support, then moved up to touch the broken support, now acted as a resistance, and price moving down, after touching the horizontal resistance and trend line resistance.
sl - 113, 1st tgt - 103.
after a long consolidation, BB expansion and BB is moving down.
Note: this is not a fno call, I am sharing my view only.
Federal bank : Rebound with inverted hammerThe scrip can be seen to rebound back from crucial levels by inverted hammer as it could have breakdown by bears taking control if gone below from rising wedge
Chances of bullish reversal due to:
1) %william near oversold situation and showing upward trend
2) Good fundamentals and recent show of results -
www.indiainfoline.com
After breakout confirmation, Bullish run expected beyond 52-week high Resistance (C)
Trade can be started after it crosses 116
Support can be taken as per chart
Note: RBI expected announcement on RBI repo rate cut could also turn favorable in the bullish surge of the scrip, in its bi-monthly policy on August 2
Call - 25-40 days
Possible trade set up on daily Chart Federal Bank I am looking for one more up side and tag the upper level of 122 , if price fails to hold the Current low and brakes the 111 can lead to tag 102
But i am not interested in sell side which is short lived , I am looking for upper level where the brake of 122 can have another swing high for 130+
so lets see what happens on Monday
Regards
Federal Bank -Taking U turn@119-Can this be bearish GartleyPattern Invalidates above 119.50+ . As suggested in previous update mentioned below in morning, which is running for federal bank- looking for a small pop up to 119.00 - 119.50 zone. Wow!
There is a bearish gartley which can play it's role if it remains below 119.50 for targets 117.80- 116.70 & below 116.50 as per previous update 114.50- 115 zone.
Previous Update - Gartley Trendline - Federal Structure ( Correction- it is Crab pattern)
Federal Bank- Gartley & Trendline -Federal structure for 128-130Below 116.50 - it could fall to the support of 114.50-115 - If holds shown by small red arrow & later getting support of red trendline & gartley last leg attraction can push the structure to 128-130 zone as the possible target zone which can be seen in coming weeks & months.
We need to see support coming in 114-115 zone for the last leg to push up & kiss the desired zone as expected above.
Let us wait & see whether this Trendline & Gartley last leg can unite to form this federal structure desired by the bulls for so many months. Once this structure completes & it faces resistance in 128-130 zone. You all know what structure it could be? don't you - It is bearish gartley - simple.
Bearish Gartley- what will you do - Please tell your answer in comments.
Have a nice weekend.