Canara bank - Ready to break!

Updated

Canara bank's price action is forming a line. As per Dow tenet "Lines indicate movement". Price is consolidating in the range 394.5 - 399.5. Break out in any direction will give a movement of atleast 10 pts. Sell below 394 .The targets are 390, 388 and 385. Stoploss is 397. Buy above 400 with the stoploss of 397. Targets are 404, 407 and 410
Analysis is based on TSI and Dow tenet.

Trade active

Long @ 400

Note

First target reached.

Note

Got good chance to scalp in long side. Will see tomorrow how the price action will behave as short side got triggerred now.

Trade closed: target reached

Good break out.

vanathi

Role I play here : Moderator.

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