FEDERALBNK Tightness Near BO [Daily]
FEDERALBNK is near a daily timeframe BO with good accumulation. This is one of the banks looking good right now, volume dry up is not ideal to be honest near BO, so the setup might be a bit risky.
Tightness is though good near the pivot point so can get in here with a 7-8% SL which will be just under the 50 DMA line.
HDFCBANK is also under watchlist as its nearing a large weekly base BO. As of now though, FEDERALBNK is showing strength first to move ahead.
RS numbers have improved from 58 to 71 in last 3 weeks. So we are buying improving strengt.
Let's see how this goes...
Tightness is though good near the pivot point so can get in here with a 7-8% SL which will be just under the 50 DMA line.
HDFCBANK is also under watchlist as its nearing a large weekly base BO. As of now though, FEDERALBNK is showing strength first to move ahead.
RS numbers have improved from 58 to 71 in last 3 weeks. So we are buying improving strengt.
Let's see how this goes...
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