Canara Bank - 200MEMA
The final move to break into a complete positive trend. Canara Bank above 256 could break the 200MEMA + downward sloping trendline resistance which has been there since 2010.
Above that the stock could go to 300/305 quickly.
I believe the entire PSU bank space is due a rerating because of low valuations + profit increases from lower than previous provisions + higher recoveries.
Above that the stock could go to 300/305 quickly.
I believe the entire PSU bank space is due a rerating because of low valuations + profit increases from lower than previous provisions + higher recoveries.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.