Traders can accumulate the stock in the range of Rs 82–83.50 for the target of Rs 92 with a stop loss below Rs 79
Federal Bank after few days’ consolidation has given a highest closing. On a line chart the stock price has moved above its previous inflection point of smaller degree.
In addition, the stock has given a falling wedge breakout and currently trading above the breakout point. In addition, weekly RSI (14) is in bullish crossover and rising.
Traders can accumulate the stock in the range of Rs 82–83.50 for the target of Rs 92 with a stop loss below Rs 79.
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