Fed bank looks like is ready for trend reversal. There looks like a 70% chance that the price is going to go down and test 110.00
Daily chart on the left side you can see few points that suggest price in the next coming days will be falling.
Monthly chart on the right side provides more confirmation with a wedge top and micro double top formation. Ideally a...
Reversal cup pattern is going to form in upcoming days. So definitely an downtrend momentum.
Target 1--118.75
Target 2--109
this for educational purpose only...
Buy Federal Bank at current level. Hammer candlestick pattern formation at important support level. After that continues raise since 2 days and reached above 50days EMA level. MACD crossover below Zero confirms upward momentum.
Buy - 132.80
Target - 142.25
SL - 123.35
Risk reward ratio - 1:1
Federal Bank - NSE
Morning Star Pattern
Federal bank has created a morning star pattern on its support level 124 to 125.
Might face some resistance around 133.
Next target seems to be around 136 / 139 / 142 levels.
Important Things
1. This is only for educational purposes only.
2. Never over trade.
3. Always keep Stop Loss.
4. Trade in limited...
Publishing herewith my idea about federal bank using monthly time frame
1. breached weekly 10 MA & 20 MA
2. Breached Monthly 5MA
3. near previous month opening
4. near previous week closing
5. 4 hr and day MA's, some upward MA closeup pending
price has support of yearly price line and monthly price line, near monthly resistance level
NSE:FEDERALBNK
Price has given Break Down of short term Trend Line on DAY chart.
Nxt support for stock is at around 120-121.
One can initiate short position for short term with SL above 132.
FEB month expiry is just 4 days away, keep it in mind while taking trade.
Federal Bank has formed a tight head and shoulder and is on verge of breakout. On higher timeframe it has given multiyear breakout and has retested the level in december. Stock if sustains above horizontal line it will give good returns in the short term.
