FEDERALBNK is currently facing selling pressure after its sharp rally. The key level to watch is the 371.70 hurdle.🚀 Wave (III) Continuation: If the stock breaks above 371.70, the next targets are 494.95 (361.8%) and 573.40 (423.6%).
📉 Selling Pressure Intensifies: However, if the current selling pressure increases and the stock breaks below 313.60 with a strong bearish candle and elevated selling volume, the downside levels to watch are 292.40 and 243.35.
For now, the price reaction around 313.60 and 371.70 could provide important clues about the next directional move.
💬 Do you think Federal Bank will resume its Wave (III) rally or face a deeper correction?
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.