ParamjitMahapatro

EW analysis of Federal Bank in longer time frame.

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NSE:FEDERALBNK   FED BANK
EW analysis shows it is in wave in longer time frame. Currently sub wave 5 of sub wave (3) of wave is going on here.

probable target for sub wave 5 comes around 140-150 levels.
long term tgts derived from fib projections are here,
Dagangan aktif:
fed bank looks quite bullish in daily, BB is expanding and price is riding upper BB.
Dagangan aktif:
going good, till now 120.25
Komen:
price respecting the overhead resistance.
Komen:
in daily, there is a probability for abcd pattern
Komen:
price following abcd pattern , today its up by 3%.
Dagangan aktif:
follow up chart on ABCD pattern
Komen:
breakout with good volume, from horizontal resistance, now retesting the breakout level.
Komen:
cmp - 109, currently it is in horizontal channel support, bounce back likely to happen.
Dagangan aktif:
looks like flat correction is over, and regular bullish divergence formed at horizontal support

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