Canara Bank is forming 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
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)
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
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
But as the Trending Resistance is very Strong the Attempt of Breakout
We would Trade Only After Breakout.
And Would Wait Untill that Happens
Closed below the Resisting Trendline.
We would enter into it only if it give Breakout till then only keep on watchlist
Stay tuned and Keep in watchlist and
Soon we would get break in 2-3 Trading Sessions
Everyone Keep in Focus
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
On 3:25 P.M
Only if it is Above 160 level