FOR STUDY PURPOSE ONLY
look here,
from low of 42 it goes to 85 (wave 1) then retracement of 50% at 62 gives (wave 2)
now let's see wave 3 MAY end at 113(ext. of 1.618% wave 1 )BLUE line
OR at 130 (ext. of 2% of wave 1 ) PINK line (LET's wait & watch )
IF wave 4 is 50% retracement of wave 3 then comes 94(YET TO DEVELOP)
IF wave 5 1.27 ext. of wave 3 then...
Federal bank is continuing to break this symmetric tringle.
After the breakout it may go upto 110 levels within 2-3 weeks...Fundamentally it is good and in catagory of investment stocks..
Monthly and weekly chart are highly bullish for long term targets are 180+ ....
Short term target is 110+
Please Like, Follow and Comments your views too....
It is been observed that the price action in both stocks trending up in the channel. They both getting high demand on the support levels or the supporting line of the channel, indicating buyers pushing up price action in a channel setup.
I shall be updating the trade calls on Monday.
Regards.
It is been observed that the price action is trending up on the daily chart and reaching above the 52w highs. Now, it is taking support at 86.50-87 levels and moving up again, indicating a trend continuation trade setup.
Target: 91
Stoploss: 87
A trade setup for shorting with retracements to T1 @86.05, T2@85.45 and T3@83.75 exists as per the chart.
Breach above SL at 89 confirms buy with target of 98.75.
Hi Guys . We are expecting a sell setup in FEDERALBNK . We are excepting it to touch the level of 81 . Hope y'll find this useful . For more ideas follow us . G'day Guys .
Federal Bank NSE:FEDERALBNK shows a double top in daily chart. Consider a short position with a near term target of 80.50
CMP: 85.25
Target : 80:50
SL : 88
Regards
Bibin
It is been observed on Daily Chart that the price action breaks and closes below support zone of 66-65 levels indicating sellers dominance over price action. Now, it shall move further down to the next support zone at around 60-61 levels.
Target 1: 63
Target 2: 62
Stoploss: 65
