FEDERALBNK trade ideas
A TUTORIAL ON FEDERAL BANKPOINT A - it took 14 days to reach the peak of 47
point B - it took 32 trading hours
Point C - it took more than 100 trading hours to take out the peak of A
This means that the whole ABC are corrective waves and sooner or later 35.5 will be breached and can go lower
conclusion - Do not invest in FEDERAL bank
Disclaimer - my view , my elliott view
The Federal Bank Ltd. - ANALYSISThe Federal Bank Ltd. has formed an Inverted Flag pattern in the weekly chart.
It is likely to see breakdown below swing low of 40 level.
We might see further weakness below 35.7.
Technical parameters look weak as of now. Keep a watch.
FEDERALBNK CAN GO DOWN TO 40I THINK FEDERALBNK WILL GO DOWN TO 40 REGION OF SUPPORT AS TWOMOROW IS ITS EARNING DAY SO BETTER LOOK WHAT THEY HAVE GIVEN IN THEIR DATA BEFORE ENTERING BUT I THINK IT IS GOING TO BE NOT THAT GOOD BECAUSE OF CORONA PANDEMIC SO MOST PROBABLY IT WILL GO DOWN BUT STILL KEEP YOUR EYES ON THE TREND LINE SEE IF IT BREAKS OR NOT AND ON SUPPORT ZONE TOO
TECHNICAL INDECATORS ARE BEARISH TOO
AND YES USE THE VWAP IN 5MIN TIME FRAME TO JUDGE THE BREAK OUT IF THERE IS A BREAK OUT FROM THE TREND LINE YOU SHOULD NOT ENTER BEFORE VWAP CONFERMATION IN 5MIN TIME FRAME
PLEASE TELL ME I THERE IS ANY MISTAKE I AM STILL LEARNING
Federal Bank looks promisingFederal Bank looking good to advance on weekly and daily time frames. Volumes looking good as well.
FEDERAL BANKBuy Above 48 for the target of 50/52.
Reason for buy:
1). Previously Price gets rejected when it touches near by 47.75, this time can see a strong bullish candle.
2). Consecutive higher lows
Can Federal Bank reach 52 tomorrow - Results tomorrow.Federal Bank may reach 52 for the following reasons
1) wave pattern target of wave v
2) it is 1:1 ratio of wave a from wave b
FEDERAL BANK IN DANGERFederal bank is expected to go down impulsively as per wave counts
Beware - results in 2 days - volatility expected
Disclaimer - Trading is a game of probabilities
FEDERALBNK Inside Bar TradeLong if it breaks the high of the previous day with a stop loss at the previous day's low.
Short if it breaks the low of the previous day with a stop loss at the previous day's high.
In case of gap up above the previous day's high or gap down below the previous day's low, please avoid buying it or selling it respectively. Follow the ending of the candle formed in first 5 minutes and follow ORB strategy.
