BFSI is Underperforming sector.
Daily TF Cup and Handle Formation with Volume Expansion.
D and W RSI supportive
MA In trend.
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
At import junction. Its previous resistance zone from 2018 levels and now the stock is challenging it.
Comparative Relative Strength (CRS) against Nifty 100 NSE:NIFTY100EQUALWEIGHT is showing outperformance.
Trending Moving average.
Today Volume Expansion seen above average with Wide range candle on Daily,
Its Mid week and W TF is not complete but still I can see Tug Of War between buyer and sellers at current levels.
Proper Stage Structure in place in D TF.
EMA analysis is positive and price is above Key MA and maintaining so since long time.
Further Upside expected as the Structure of NSE:CNXIT
is also showing a BreakOut.