| CMP# | 103.15 |
| Idea | SELL |
| Sell Range | 105 – 102 |
| Target | 95 – 92 |
| StopLoss* | 108.75 |
| Duration | 15 – 20 Trading Sessions |
| Potential Return^ | 8 – 11% |
| CMP# | Idea | Sell Range | Target | StopLoss* | Duration | Potential Return^ |
| 103.15 | SELL | 105 – 102 | 95 – 92 | 108.75 | 15 – 20 Trading Sessions | 8 – 11% |
# CMP on July 17, 2019
* Maintain recommended StopLoss by daily closing basis.
Once 1st target hit, reset StopLoss at 99.
^ The returns are calculated based on CMP#
COMPANY OVERVIEW
Federal Bank is an Indian commercial bank operates through four segments: Treasury, Corporate Banking, Retail Banking and other banking operations. The company offers savings accounts, current accounts, demat accounts, salary accounts, gilt accounts, NRI deposit accounts, fixed deposits and different loan schemes like education loan, car loan, home loan, gold loan etc. The company also provides health, life and other insurance products, mutual funds, National pension system etc.
| Stock Data | |
| NSE Code | FEDERALBNK |
| Sectoral Index | Nifty Bank |
| 52W High | 110.4 |
| 52W Low | 67.05 |
| Face Value | 2 |
TECHNICAL OBSERVATIONS (WEEKLY)
- Rising wedge formation since January 2019.
- Currently, we are witnessing a downside breakout from the Rising Wedge pattern on the weekly chart, which is a negative sign for the stock.
TECHNICAL OBSERVATIONS (DAILY)
- Recent closing below the Lower Bollinger Band showing further downside movement.
- Volume has expanded sharply during price fall.
CONCLUSION - Federal Bank SHARE PRICE FORECAST
Based on our positional trading tips for share market, Federal Bank share price target will be 95 – 92 in the next few days.