The RSI support above 50 also provides sufficient backup.
First target can be taken as 109 and
2nd target around 127.
Please remember this idea is for educational purpose only.
good flag formation and volume expansion during break out.target is 136.50,there two resistance
lines to reach that target observe the price action at these resistance levels(R1-127 & R2-109).if bullish continue to
hold but if it is opposite book profits.stop loss levels sl1-97 & sl2-90
Federal Bank Cmp 104 dated 22.10.2021
1. Ascending Triangle BO @ 98.
2. Volume rise
Buy for a tgt of 165 SL 85
It is just a view, pls trade at your own risk.
If the price continues to stay above 102.47 and break the high of 105.70 we could probably see levels of 108.53-113.17-120.63. On the selling side one could watch for break of 99.65 which could then meet our supports of 96.43-88.97-84.33 and more.
Federal Bank has given a classic Mark Minervini's VCP formation Breakout. The results that they announced was also good. Stock can give some good moves from here.
Fed Bank has given a breakout of its previous down trend (Yellow line) last week and this week it has managed to sustain above that. Therefore, I would recommend to buy the stock for the targets of 109 and 127. For longer term the stock is looking extremly good. However, we will take a review once it crosses 127.
Target - 109 and 127
SL - 94 Weekly.
View - Short term.
Please refer all the chart noting's, I have explained most of the things in the chart.
Target shall be 110-130 levels and SL will be breakdown below 50EMA on a closing basis.
If you are an Investor - Invest Patiently
If you are a trader - Trade cautiously
Federal bank gave an excellent breakout with huge volumes, my first target is 110 which could easily achieve in two trading sessions. Adx also showing bullish trend.
I am not a sebi registered advisor. This is only for an educational purpose
As we can see smaller pattern has been achieved at D and it has made doji or indecisive candle and if stock falls from here then we can safely long it at 89 as after breakout this line has not been retested so we can expect bounce off this line and movement has been shown with blue arrows. After taking support on this trendline at 89, bigger harmonic pattern will...
Federalbnk Long
Breakout done
Buy at CMP- 93.6 or around 90
SL- 86.8
Target- 98.2, 104.7, 110
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Disclaimer- We are not SEBI registered advisor.
Charts and views are only for educational purpose.
Trade Idea
Keep an eye!
- Key levels have been marked
- Volume Expansion has happened
- Breakout after almost 7 months of sideways consolidation
Keep an Eye!
This is not a recommendation, do your own analysis of this idea before putting your money in it
The stock has been moving within a range for quite a few months.
However, the setup in the current market and its bullish RSI levels looks ripe for BreakOut for this stock if it crosses and sustains over 90.
Expected levels are 97 and 104.
Keep a tight stop loss, probably around 86 levels once the trade is initiated. Or you can adjust basis your own risk...
