Traders can accumulate the stock in the range of Rs 82â€“83.50 for the target of Rs 92 with a stop loss below Rs 79, says Rupak Deâ€‹ of Bonanza Portfolio.
Federal Bank afterÂ fewÂ daysâ€™Â consolidationÂ has givenÂ a highestÂ closing. On a lineÂ chartÂ the stock price has moved above its previousÂ inflectionÂ point of smaller degree.
In addition, the stock has given a falling wedge breakout and currently trading above the breakout point. In addition, weekly RSI (14) is in bullish crossover and rising.