Canara Bank looking Bullish

Anmolshukla Updated   
Medium-term Swing Trade (2-7 weeks)
(Purely Price Action based trade)

Canara Bank has posted very strong quarterly and yearly results and looks bullish in the future.

It is approaching a very strong supply zone of Rs. 170-177 where it has faced rejection multiple times previously.
If this zone gets broken with a good momentum and volume the following trade can be entered into:
(Levels and analysis mentioned on the chart)

Entry Price : Rs. 176-178

Target 1: Rs. 190
Target 2: Rs. 205
Target 3: Rs. 235
High Risk Traders can also enter at CMP for:

Target 1: Rs. 172
Target 2: Rs. 190
Target 3: Rs. 205
Target 4: Rs. 235
(The R2R Ratio is not very favorable in this trade)

Good Entry Point for traders willing to take the high risk trade:

Enter @Rs 156-157
Sl @Rs 146-147

RR = 1:1.6
Trade closed manually:
Entry not achieved, trade not activated

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