Arshad_Khatib

Bullish Pennant pattern in Canada Bank

Long
NSE:CANBK   CANARA BANK
NSE:CANBK

Canara Bank is forming Bullish Peanut pattern in 1D and 1W chart
Breakout is yet to come.
If Breakout comes we can Expect A big move in it for a holding period of few weeks from
Buying day.
Target and Stoploss are given in the chart

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(NOTE - This Research is only for Educational purpose So please make your own research too before investing
We are/would be not responsible for any Profit or loss)
Comment: Hey Guys I m Sorry for so many spelling mistakes in the chart and the whole Idea
I usually Post Ideas from my laptop but yesterday Posted it From my mobile and unknowingly mobile auto-corrected many things and the meaning changed

The above Idea is About CANARA BANK not CANADA BANK
And It is Forming PENNANT PATTERN not PEANUT PATTERN.

once anain sorry for that
Comment: IT has Started Moving Just same like Shown
we need at least a Month for breakout if this movement goes the same

Traders must learn the Patterns and movements created by it
Chart Patterns are very strong Signals for Breakouts and they give a good move in that Direction
Comment: It Tried to Give a Breakout Above Our Given Levels
But as the Trending Resistance is very Strong the Attempt of Breakout
Was Unsuccessful.

We would Trade Only After Breakout.
And Would Wait Untill that Happens
Comment: Today one more attempt of breakout Failed.
Closed below the Resisting Trendline.

We would enter into it only if it give Breakout till then only keep on watchlist
Comment: Breakout is coming in few days
Stay tuned and Keep in watchlist and
Observe
Comment: The time is Coming Near 🤩

Soon we would get break in 2-3 Trading Sessions

Everyone Keep in Focus
Comment: As said Breakout coming close
We are getting breakout today

160 was Strong resistance as per chart and Option chain both.
Which is broken now

Risky Traders can Buy on CMP
Or wait for Day closing that is buying near 3:25
Trade active: Buy Canara Bank
On 3:25 P.M
Only if it is Above 160 level
Comment: Stay invested everyone

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