Pritesh Mehta of IIFL told CNBC-TV18, "Federal Bank has made a horrible chart, in fact it was a horrible chart in multiple time frames. It has already made topping out pattern in the second week of March. We can see the stock breaking down from a bearish head and shoulder pattern. We can also see the stock closing below its 200-day moving average for last six trading sessions. We already have intermediate top in place, so it is the right time to sell this counter. We can see levels of Rs 120-121."
The company's trailing 12-month (TTM) EPS was at Rs 11.70 per share. (Dec, 2014). The stock's price-to-earnings (P/E) ratio was 11.17. The latest book value of the company is Rs 81.14 per share. At current value, the price-to-book value of the company was 1.61.
Disclosure: Analyst might have recommended trading ideas to his clients but has no personal holdings.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
