CUP AND HANDLE PATTERN IS ON THE WAY ..PATTERN WILL BE CONFIRMED IF IT GIVES BREAKOUT AND SUSTAINS..PRICE IS TRYING TO BRTEAK THAT RESISTANCE LEVEL...STRONG MOMENTUM IS VISIBLE..FOR LEARNERS..GOOD STUFF TO OBERVE
BFSI is Underperforming sector.
Daily TF Cup and Handle Formation with Volume Expansion.
D and W RSI supportive
MA In trend.
Info
Federal Bank Limited is a major Indian commercial bank in the Private Sector, headquartered in Aluva, Kochi. The bank has more than 1,200 branches spread across different states in India
Stock has given breakout from cup and handle pattern. Buy above 91 TGT 8 to 10% SL 84. For educational purpose only. Kindly contact your financial advisor before entering any trade.
According to chart anylasis its trade in parallel channel after give a solid breakout With increasing volume upper trandline and today also closed above tradeline. We can suggest for buying at this level.
Buy @cmp 90 or above.
Target : 95,100, 110++ short term target.
As shown in Chart Fed Bank has given Cup and handle breakout in multiple time frame with very good volume ...
Levels are already mentioned in the chart.. Looks very good above : 92.50 for the target of 120+
Things to remember
1) Always wait for Confirmation, dont just jump in running candle
2) Condition for breakout is ... it should break the range with...
Seems like Federal Bank is about to break an important resistance, showing good volume at start of market, we could probably add some to portfolio if close above resistance. Add after 3.15 PM.
