Hello Again,
Today's Pick : FEDERAL BANK LTD.
Banking Stocks are On a upmove since a few weeks, Most of the Banks rallied strong, Few are still left out and few are on the verge of "Big Breakouts"
Federal bank is One of the Banks, who are now moving towards massive breakouts.. although the upmove from lows is decent, there is still a scope of growth for the stock.
Let's See the charts on Daily Time frame..
in the First Chart We see a clear trend breakout from a falling trend to a rising trend or an uptrend. The Price is moving in a Rising Channel and moving in correct technical setup. at current position the price has reached the Resistance zone of 60-64 level and consolidating in the zone. Any Break above 64 will be big.
in the second chart, we find a Strong Chart patter on Inverted Head and Shoulder. The Pattern is Highly successful and the price Target according to the pattern comes around 80 levels. The 80 Level will be very crucial and break above the level will lead the stock to rally further to 120+ levels. The Reasons? will update once we reach the 80+ level :)... Stay Tuned !!
These are all Technical Views which are based on Daily Charts, indicating any price movement towards the Targets will take time and it is not expected to move in a Single day. So Do not enter with speculative bets in the trade. These recommendations are purely for Investment purpose.
Recommendation :
BUY FEDERAL BANK LTD. at 58-61 range, with a Stoploss of 53 Rupees and a Price Target of 68 - 74 - 88 and Later 120+
Book at least 30% profits around 75+ levels and move stoploss for remaining qty around 64 levels to hold remaining qty.
Follow Strict Risk Management Before Entering the Trades and Consult your Investment Adviser for guidelines. "Do not jump in the trade" without considering the risk.
Enjoy Trading, Trade Safe, Trade Wisely !!
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Disclaimer :
The Analyst May or May not have trading positions or Investments in suggested Instrument, The Trade is Long Term and the Analyst may recommend the trade to his clients time to time for short term trading. short term reversal trades May be advised in this duration and it will be according to the charts.
The Analyst is a SEBI Certified Investment Adviser and Global Market Expert having Vast experience of Financial Markets in India and Across the Globe. Running Analysis Services and Advisory since Last 6 years for clients across the world in Stock Markets, Forex, and Commodities.
Contact Details ::
WhatsApp & Telegram +91 8275 298 208 / Email : 4x.magician@gmail.com
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