Federal Bank Looking Very Strong- Keep In Radar

📊 Federal Bank Ltd

✅ The stock has successfully broken above a descending trendline that has been acting as resistance for the past few months. This breakout, accompanied by increased volume indicates strong buying interest and a potential shift in trend direction.

✅The recent price move was supported by a notable surge in volume, further validating the breakout. High volume on the breakout suggests that institutional investors may be involved which adds strength to the upward momentum.

✅ Federal Bank has established a solid support base around the 182-184 level which has held up well over multiple testing points. This level now acts as a floor limiting downside risk and providing a robust foundation for the stock’s upward move.

✅The RSI currently stands at 70 signaling strong bullish momentum without yet entering the extreme overbought zone. This suggests the stock has further upside potential as momentum builds.

🚨With the trendline breakout and volume confirmation, Federal Bank could target 215 in the short term, with a potential extended move towards 225 if the momentum continues. These targets align with historical resistance zones, making them realistic profit-taking levels.

🚨 The 192 support serves as a logical stop-loss level, providing a cushion against a potential pullback while allowing room for the trade to mature. Any close below this level would indicate a weakening of the bullish setup signaling an exit.