FEDERAL BANK LTDGiá xuống
Federal Bank (NSE): Big Push Lower Expected
Sellers are preparing for a big push lower. The narrow range on the daily chart occurs just above the weekly cloud support and is almost certain to lead to a rapid sell-off over the coming days and weeks. The overall market condition is too outspokenly bearish to shrug off. At a minimum FedBank has all the odds stacked against it.
Dipping below 89.40 should speed up bearish sentiment towards 75.10<>74.80. For the long-term such a decline means the start of a new bearish primary trend, so even lower levels are probable on a 9-12 month horizon. Due to the risk/reward, FedBank is a good shorting candidate. We suggest the following parameters: short-entry below 89.40 with initial stops at 96.70 and a main target in the mentioned zone 75.10<>74.80.
Primary trend: neutral
Outlook: new primary down trend expected, negative
Strategy: avoid or trading short-entry < 89.40
Support: 89.40 / 75.10 / 74.80-
Resistance: 96.70 / 116.50+
Outlook cancelled/neutralized above 96.70
FEDERALBNK
Dipping below 89.40 should speed up bearish sentiment towards 75.10<>74.80. For the long-term such a decline means the start of a new bearish primary trend, so even lower levels are probable on a 9-12 month horizon. Due to the risk/reward, FedBank is a good shorting candidate. We suggest the following parameters: short-entry below 89.40 with initial stops at 96.70 and a main target in the mentioned zone 75.10<>74.80.
Primary trend: neutral
Outlook: new primary down trend expected, negative
Strategy: avoid or trading short-entry < 89.40
Support: 89.40 / 75.10 / 74.80-
Resistance: 96.70 / 116.50+
Outlook cancelled/neutralized above 96.70
FEDERALBNK
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