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
This Rakesh Jhunjhunwala stock has increased by more than 26% in the last month.
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.
Sumeet Bagadia, Executive Director at Choice Broking, commented on the Federal Bank share price outlook
outlook "Federal Bank shares are in an uptrend, with minor resistance at around 110 per share.
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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