Federal Bank Limited is an Indian private sector bank headquartered in Aluva, Kochi, Kerala. The bank has 1,336 branches spread across different states in India. It also has representative offices abroad in Abu Dhabi, Qatar, Kuwait, Oman, and Dubai.
The Federal Bank Limited (the erstwhile Travancore Federal Bank Limited) was incorporated with an authorized capital of ₹5,000 at Nedumpuram, a place near Thiruvalla in Central Travancore on 23 April 1931 under the Travancore Companies Act. It started business of auction-chitty and other banking transactions connected with agriculture and industry. The bank was named Federal Bank Limited on 2 December 1949, after completing the formalities of Banking Regulation Act, 1949. It is considered as one of the major Indian commercial banks in the private sector having more than thousand branches and ATMs spread across different States in India.
Federal Bank stock price is attempting to make a breakout over its lifetime high zone around the price of Rs 130. The stock has faced stiff resistance at the Rs 130 price level. Since the high of Rs 143 in January 2023, the stock has consolidated in the range of Rs 120-140. The stock appears to be hugely overbought. Traders have long and short opportunities depending on the breakout of the price from the Rs 130 level. If the price shows sustainable bullishness, traders can place long trades. If the price falls below Rs 120, traders can initiate short trades.
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