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What is view for Federal Bank stock ?

SHREEHARSHA's picture
Submitted by SHREEHARSHA on September 11, 2009 - 09:34

I have opened position at 237.00 Rs per share for Federal Bank,even though market is 1% gone up this stock has come down 5 % down,please share reason and view on this stock please?


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Submitted by himesh on September 11, 2009 - 21:33. #

Shreeharsha, Federal bank stock is giving mixed signal in short term and you will have to keep close eye on this stock with strict stop loss. As you can see in attached chart  RSI is improving and I noticed good volume in past few days. That suggest that some institutional buying might be happening in the stock, and after all supply is soaked stock could make next move.

But at the same time I am little concerned about short term trend line. It made lower highs recently. That tells me that there are some investors who think this stock is over valued and they come and sell this stock as soon as it gets closer to 240 level.

 

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