FEDERALBNK trade ideas
Federal Bank is on multi year breakout 1. Since 2008, there are multiple supports at the bottom
2. More then 3 resistance at top
3. After 2020 April the volume is getting pretty decent
4. B/O happened in the month of Oct 2021 but Hugh Wick haas formed in monthly time frame, If the price crosses 107 this month, then the price movement can been expected upwards with pretty decent returns
Note : Key to win this kind of setup is to have patience
Just buy and hold for at least 3 months.
Disclaimer : Just for education Purpose.
Caution before get in to trading.
Thanks Happy Trading :)
Federal Bank | Swing + LongFederal Bank was moving in the fixed range for the last 4.5 years after reaching its lifetime high. Recently gave a breakout and retraced till its 200 MA (weekly chart).
Can expect 30%-40% return in a duration of 6 months.
Swing target - 110 and 127
Long target - 214 (12 to 18 months)
SL - 80
Note - Federal banks are having strong growth and future. One can HOLD it for the long term (>10 years) for multi-bagger returns.