Buy FEDERAL BANK March 85 call option at Rs 3
Stop loss of Rs 2.10
Target Rs 5
- Long build-up is seen in the Federal Bank Futures’ where we have seen rise in Open Interest with Federal bank moving up 3%
- Stock price closed above its 20 and 200-day simple moving average (SMA) yesterday, indicating a positive trend for the short to medium term.
- After forming double bottom around 78-odd levels last week, Federal Bank has risen over 7% with higher volumes, indicating a bullish trend reversal.
- Mometum Indicators and Oscillators like RSI and MACD is showing strength in the stock.