The Federal Bank Limited Stock Forecast
Weaker technical forecast for The Federal Bank Limited as stock downgraded to Buy Candidate.
(Updated on Apr 26, 2024)
The The Federal Bank Limited stock price gained 0.609% on the last trading day (Friday, 26th Apr 2024), rising from ₹156.00 to ₹156.95. It has now gained 5 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 1.47% from a day low at ₹156.25 to a day high of ₹158.55. The price has risen in 6 of the last 10 days and is up by 0.84% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 128 thousand more shares were traded than the day before. In total, 866 thousand shares were bought and sold for approximately ₹135.93 million.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 3.24% during the next 3 months and, with a 90% probability hold a price between ₹153.27 and ₹174.06 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
FEDERALBNK.BO Signals & Forecast
Mostly positive signals in the chart today. The The Federal Bank Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at ₹153.97 and ₹152.51. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, March 14, 2024, and so far it has risen 7.43%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for The Federal Bank Limited stock
The Federal Bank Limited finds support from accumulated volume at ₹156.60 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved ₹2.30 between high and low, or 1.47%. For the last week the stock has had daily average volatility of 1.53%.
Our recommended stop-loss: ₹149.18 (-4.95%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 26 days ago.)
Trading Expectations (FEDERALBNK.BO) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect The Federal Bank Limited to open at ₹157.25, and during the day (based on 14 day Average True Range), to move between ₹153.47 and ₹160.43, which gives a possible trading interval of +/-₹3.48 (+/-2.22%) up or down from last closing price. If The Federal Bank Limited takes out the full calculated possible swing range there will be an estimated 4.43% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹157.20 (0.16%) than the support at ₹156.60 (0.22%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is The Federal Bank Limited stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for The Federal Bank Limited stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.
Current score: 4.490 Buy Candidate Downgraded
Predicted Opening Price for The Federal Bank Limited of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| ₹157.25 ( 0.191%) | ₹156.95 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FEDERALBNK.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 159.55 | 1.66 % | |
| R2 | 158.67 | 1.10 % | ||
| R1 | 158.13 | 0.751 % | ||
| Current price: | 156.95 | |||
| Support | S1 | 156.37 | -0.369 % | |
| S2 | 155.83 | -0.714 % | ||
| S3 | 154.95 | -1.27 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 164.60 | 4.87 % | |
| R2 | 163.00 | 3.85 % | ||
| R1 | 157.20 | 0.159 % | ||
| Current price | 156.95 | |||
| Support | S1 | 156.60 | -0.223% | |
| S2 | 154.40 | -1.62% | ||
| S3 | 154.30 | -1.69% |
FEDERALBNK Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 11, 2023 | Aug 11, 2023 | Sep 17, 2023 | ₹1.00 | 0.675% |
| 2 | Jul 19, 2022 | Jul 19, 2022 | Aug 26, 2022 | ₹1.80 | 1.58% |
| 3 | Jul 03, 2017 | Jul 03, 2017 | Aug 13, 2017 | ₹0.90 | 0.85% |
| 4 | Jul 29, 2016 | Jul 29, 2016 | Jul 29, 2016 | ₹0.700 | 1.08% |
| 5 | May 28, 2015 | May 28, 2015 | May 28, 2015 | ₹2.20 | 3.08% |
FAQ
Click here for our free guide on how to buy The Federal Bank Limited Stock.
