Stock of the day : Federal Bank Ltd by Target Rs. 212 - Religare Broking Ltd
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Federal Bank Ltd
Buy Federal Bank Ltd CMP 199.17 Range 199-200 SL 193 Target 212
* Federal Bank exhibits a bullish technical structure, with prices decisively breaching key moving averages accompanied by a notable surge in the volume, indicating renewed accumulation.
* The recent breakout follows an extended consolidation phase, reinforcing upward momentum.
* A double-bottom formation on the daily chart further supports the likelihood of a trend reversal in favor of buyers.
* Traders may consider initiating long positions while maintaining disciplined risk management near established support levels.
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