Introduction:
In recent weeks, the global oil market has experienced significant turbulence, with oil prices plummeting due to weaker-than-expected economic data from China and mounting rumors surrounding the Federal Reserve's interest rate decisions. As traders, it is crucial to exercise caution and carefully evaluate the potential risks associated with oil...
I am bullish on banking sector.
FEDERAL BANK looks interesting.
The price reached the daily support area around 125 and firstly, gave a BEAR TRAP and then formed MORNING STAR CANDLESTICK PATTERN. Both of these are bullish signals.
Expecting price to rise till:
1. 131
2.136
3.140
Stop loss can be below 124.
Let me know in comments section if you want me to...
Classic double bottom pattern clearly visible on daily chart with a W shape. T1 should be the 200 DMA at around 92ish and T2 post breakout of 200 DMA would be around 108 to 110
