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MTF Stock Pick Buy Federal Bank Ltd For Target Rs. 104.- HDFC Securities 

TECHNICAL OBSERVATIONS

Downward sloping trend-line Breakout on the Daily Chart

Bullish Inverted Head and shoulder Pattern breakout on the daily Chart

Volumes have confirmed the breakout on the daily charts

Stock has been finding support on its 50 days EMA

Banking as a sector has resumed its uptrend

Indicators and oscillators have been showing strength in the current uptrend

Stock is placed above medium to long term moving averages, indicating bullish trend on all time frames

Buy Federal Bank Ltd Up to 3 Months @ Average Level 84.50 CMP 88.25 TGT 104 SL 82.50

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