Federal Bank (NSE: FEDERALBNK) is bounding off of trend line support and also 200DMA support. The price action is bullish and we can expect it to reach resistance zones at 90 and subsequently at 97.
Federal bank gave bullish close above falling trend-line and breakout point was placed at 92.5
It has given breakout from Inverse head and shoulders pattern.
IH&S are most commonly found at bottom of downtrend they are reversal patterns.
Can enter long near 89-90 with Stop loss 70 for 149 target
DISCLAIMER:There is no guarantee of profits nor exceptions from...
Federal Bank has a strong support at 78 and since April 21, when there was breakout above the FIB 78.6% level of 76, it hasn't ever retested it. However, the stock being in a short range of 10 bucks, will have to play by the day and on shorter timeframes.
Volumes are generally high in this counter and provides ample trading opportunities. I personally will go by...
Federal Bank is one of the Big Bull Rakesh Jhunjhunwala's big bets.
The stock has broken up above the downward trendline forming since March 2021, with a downward trendline formed since October 2017 very close above it.
Federal Bank is seeing some consolidation in this range before it makes the next leg up above the second trendline.
federal bank has been everyone's watch out for the pat 4 months since its been trying to cross the 90 support range, if HDFC crosses its support, then federal bank will cross the support as the big bank will move the bank nifty which eventually pushes the small bank to its top. have a watch on it.
NSE:FEDERALBNK is facing multiple Resistance on Weekly Chart.
Currently trading near its long Down Trend Resistance level.
Also stock is taking support on 50 EMA (Week).
Stock is poised at crucial point now.
If Federak Bank gives BO from its Trend line Resistance & sustains, then we can see a Fresh long term upmove in stock.
FIrst target of upmove will be ...
Monthly chart
Every time it touched support has made a new high last touch was in 2020 and now moving to make a new high ...keep watching and make your position bulliesh stock
Go Long above 80.6 for Targets of 83.05, and 85.5 with SL 78.15
Reasons to go Long :
1. On a daily timeframe if we draw the Fibonacci retracement tool from recent swing low (point A) to recent swing high (point B) then we see stock took support from 0.618 Fibonacci level.
2. A bullish candlestick pattern ( Bullish Hammer ) marked with the orange color is formed...
Swing Trade -
Increase in the RSI Strength
Morning Star at the key support
Buy above black line
SL Red Line
Target Green Line
There are people who likes to trade based on breakout or chart patterns only. But not all trades can be captured based on chart patterns and breakout trades are usually good for Intraday / BTST. Indicators and candlestick patterns can...
