IamGeorgy

Canara bank is about to BREAK OUT soon

Long
NSE:CANBK   CANARA BANK
The latest retracement ( ie from 3rd week of April'21 till 4th week of May'21) is very bullish . Right now it is in its long term support/resistance zone from early 2016. Above it there is another such possible resistance region which has relevance since 2019. It can consolidate between these regions and make a break out. Since there is positive news in market that they are about to raise 9000 Crores in FY22, it might make this breakout sooner. Swing traders can aim 196-216 levels, according to the risk and reward appetite.

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