FEDERALBNK trade ideas
FEDERAL BANK : 31 AUG 20 :WHAT ARE THE OPPORTUNITIES HERE?
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1. DAILY HIGH IS AT UPPER B BAND.
2. BEAUTIFUL TRIANGLE FORMATION.
3. HIGH VOLATILITY IN LAST TRADING DAY.
4. 61.15 IS THE MAIN RESISTANCE AREA FOR DAILY CHART.
5. SELL BELOW 60.3 IS A JACKPOT.
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Federal Bank Target 59The Stock has been in range and adhering the trend line
Can be bought at CMP with Stop loss of 52 on closing basis
Target of 59
Reason previous day candle Hanging man with confirmation of Today green candle closing above yesterday's high
Market is also supportive could be seen in next 2-3 sessions
FEDERAL BANKSimple Price Action analysis. Waiting for a breakout.
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FEDERAL BANK....WHAT HAPPENS NEXTTHE BANK IS PERFECTLY TRADING IN A BOX..... I SEE SOME CORRECTIONS COMMING IN TODAY AND TOMORROW. PRICE LEVELS TO WATCH OUT ARE INDICATED IN THE CHART. BEST STRATEGY HERE WOULD BE TO EITHER BUY A ATM CALL &PUT...OR CREATE A STRIP/STRIPE WITH STOPLOSSES ON EITHER SIDE. ADD MORE TOWARDS THE DIRECTION OF TRADE. SUGGESTED TO TAKE A POSITION ON FRIDAY MORNING
RANGE BOUND BUT GOOD BET TO BUYFED BANK IS ONE OF THE BIGGEST GOLD LOAN LENDER IN BANKING SECTOR, WITH THE INCREASE IN PRICE OF THE GOLD THIS BANK GOING TO BE THE BIGGEST BENEFICIARY BUT IT STUCK IN RANG BOUND.
So, two things can be done here
1. Play the range bound Buy Near 50 levels and sell near 57 Level SL - 48
2. Wait for breakout or break Down close below 49 sell, buy close above 58.
Make a long postion ( Buy below 57, Target 65, StopLoss 52 rs)As we look to the patterns in this chart, We understand that this stock in bullish trend. As we provided the support and resistant, the stock is moving towards the resistance level. The Relative Strength Index (RSI) has a positive sign. Here, we end up with calling a buy signal. ( Buy below 57, Stop loss 52 and Target 65 )