The Federal Bank Limited has been trying to remain above its support line which happens to fall at the level of Rs 78 and thus any break of this level can be bad for the stock as market is out to punish the banking stocks as recent PMC bank scam has shaken the investor confidence and in this blood bath RBL bank has already suffered massively. Mr Rana Kapoor who once said that "Yes bank" shares are like diamonds and he will never sell it and he finally sold off his almost complete stake. So, Janta confidence in banking stocks is at its lowest ebb.
To restore confidence, we can say that these banks with high NPA were carrying burden since Manmohan Singh days and now only the cleaning act is in progress.
Have a look at FederaL Bank chart and be ready to short the stock as and when the level of 78 is breached with volumes, This is a warning in advance so that all can make money by shorting the stock. Moreover, if you want to make money in intraday on a daily basis then you can not afford to miss our NSE tip which gets you profit by 11 AM every day.
To restore confidence, we can say that these banks with high NPA were carrying burden since Manmohan Singh days and now only the cleaning act is in progress.
Have a look at FederaL Bank chart and be ready to short the stock as and when the level of 78 is breached with volumes, This is a warning in advance so that all can make money by shorting the stock. Moreover, if you want to make money in intraday on a daily basis then you can not afford to miss our NSE tip which gets you profit by 11 AM every day.
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