Rakesh Jhunjhunwala's portfolio includes a banking stock that is nearing its 52-week high. Do you own anything?

Rakesh Jhunjhunwala's portfolio: Due to strong Q1 results, Federal Bank's share price has been rising for the past week.

Indeed, the stock had emerged from its consolidation phase well before the Q1 FY2022-23 results

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This Rakesh Jhunjhunwala stock has increased by more than 26% in the last month.

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The share price of Federal Bank is close to its 52-week high, having closed just 0.40 away from its 52-week high of 107.65 on Tuesday.

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Sumeet Bagadia, Executive Director at Choice Broking, commented on the Federal Bank share price outlook

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outlook "Federal Bank shares are in an uptrend, with minor resistance at around 110 per share.

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The banking stock is expected to break through its immediate barrier once it maintains above 108 per share levels for one to two hours after reaching a new 52-week high.

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