CANARA Bank - BoD consider fund raise on 10July - Level

Jul 8, 2020

News: Canara Bank cut MCLR while BoD to consider fund raising on 10 July

#CanaraBank #CANBK is moving between 20EMA as support and 100EMA as resistance. After touching 100EMA on 24th June 2020 stock shown bearish move but after yesterday news stock received High volume. Till 10 July BoD meeting, stock will show +ve sentiments.
Aggresive New long buildup can see. Stock was moving under Bollinger Band and started consolidating but yesterday news had given move hence today stock opened above mid bollinger band and crossed the upper bollinger band and closed below.

Showing Bullish in all indicator:
CCI is trending UP
Stoch %K crossed above %D from below
DI+ crossing 25 from below
PSAR indicating Bullish reversal
RSI is trending UP
Aggresive New Long
Stock outperforming from Benchmark and sectrol index on 1 week and 3 month both
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Support : 99
Breakdown : 103
CMP : 109
Breakout : 112
Short Target : 115 and 122
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Negative Point:
1) Bearish in weekly and monthly chart.
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(Disclaimer: This is only for educational purpose.)

Jul 9, 2020

Trade active

Tried to breakout but faced resistance due to market uncertainty. Same level will depend on tomorrow BoD meeting result.