Long-term investors can buy the shares of Federal Bank (₹134.95) at current levels. The stock has been in a strong uptrend since April 2020. This uptrend still has room on the upside. Near-term supports are at ₹123 and then at ₹119-117. Below that ₹108 and ₹105 are the next strong short-term supports. Resistance is at ₹157. A break above it can take the Federal Bank share price up to ₹185-190 in the second half of 2024. Investors with a timeframe of one-two years can buy Federal Bank shares now. Accumulate on dips at ₹125 and ₹120. Trail the stop-loss up to ₹140 as soon as the stock moves up to ₹160. Move the stop-loss further up to ₹168 when the Federal Bank share price touches ₹173. Exit the shares at ₹180.
Technical Call: Federal Bank- BUY
Published on
April 29, 2023 13:17
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