Federal Bank Limited is a major Indian commercial bank in the private sector headquartered at Aluva, Kerala having more than thousand branches and ATMs spread across different States in India. The Bank offer its customers, a variety of services such as Internet banking, Mobile banking, on-line bill payment, online fee collection, depository services, Cash Management Services, merchant banking services, insurance, mutual fund products and many more as part of its strategy to position itself as a financial super market and to enhance customer convenience.
SHORT TERM PERSPECTIVE
|Company||Federal Bank Ltd.|
|Recommendation||Accumulate (Rs.49.50- Rs.50.50)|
|Stop Loss (SL)||Rs.44|
|Time Horizon||2-4 Weeks|
Intermediate and short term trend is up in this stock. After a sharp correction stock has been consolidating in a wide range. The stock has given a breakout from this range with increasing volumes. Moreover, an inverse head and shoulder pattern is made on the daily chart, which is a bullish pattern in nature. Increase in volume and positive diversion from oscillator indicate that stock can move higher from current levels so one can accumulate the stock between (Rs. 49.50- Rs 50.50) With a stop loss of Rs.44 on closing basis for the target price of Rs.58- Rs.64. Time frame should be 2-4 week.
DISCLOSURE IN PURSUANCE OF SECTION 19 OF SEBI (RA) REGULATION 2014
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