Federal Bank Ltd. (India)
做空

Federal Bank

571
Hello & Welcome to this analysis

It completed an Elliott 5 waves from May 2022 lows to Jan 2023 high.

Post that Wave A till Feb 2023 lows followed by a Wave B till this week's high.

Today's reversal appears to be Wave C down that could probably take it to 115-110 where it appears to have a support based on the consolidation it has had in that area in the past.

Immediate support now at 124 while immediate resistance at 134.

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