Federal Bank: How to identify wild price movement before the news is out in the stock!Nov 09, 2021
Like this Article? Share it with your friends!
Using wave theory, we were able to identify a quick 10% move in Federal Bank before reports of ace investor Rakesh Jhunjhunwala adding stake in this stock.
we published Federal Bank analysis in "The Financial Waves Short Term Update" on 13th October which our subscribers receive pre-market every day. Check out below the detailed research report that we published.
Federal Bank as of 13 October 2021 (Anticipated)
Federal Bank as of 09 November 2021 (Happened)
On the daily chart, intermediate degree wave X of complex correction pattern is unfolding on the upside since mid of May 2021. The corrective structure of wave X suggests that it is forming a Diametric pattern. We can see that the trading range of the stock has been reducing since March 2021. The stock seems to have completed wave f near the 200 EMA and is now moving in the form of wave g on the upside.
In short, Federal Bank is bullish over the short term. Any close above trendline resistance along with crossing above 91 levels suggests that the trend can move towards 98-99 levels. On the downside 85 is the key support.
Happened: After we published the report on 13th October, prices kept drifting higher and on 21st October the stock precisely hit our target of 98 levels when the news of Rakesh Jhunjhunwala increasing stake in the stock surfaced.
Subscribe to the Daily equity research report – The Financial Waves Short Term Update and get insight into Nifty, Bank Nifty, Stocks that are providing good opportunity and much more. Get access now to be on the right side of the trend over here
Did you check my today's video on How to trade Nifty using 85 weeks Time cycle check here
3 Months of Mentorship on Timing the Markets – Time the market using Simple, Easy and Effective Time cycle trading techniques with a combination of Step by step methods using Candlesticks, Timing tools and Elliott waves, complete handholding, stock selection methods, Algo creation, Option trading with a complete Trade plan, to know more contact us on +919920422202 or fill the below form