Canara bank started its upmove from levels of 80 and now it trading around levels of 310 almost have given a rally of 4times in last 2 years
Now on weekly time frame counter is trading around resistance levels of descending trend line, which is around 310-325 levels,
in last one week counter is consolidating in range 303-315 levels and now able to sustain higher,
Wolf wave formation is observed from the low of 2020 to till date and counter is overbought as per the structure of wedge, 5th wave of wolf wave is almost matured and waiting for reversal confirmation, any weekly bearish candle formation would lead to confirmation of trend reversal in counter,
Bearish divergence on RSI is observed on weekly time frame, price wise reversal can be seen on weekly candle closing below 301 levels,
Its time to book your investment on this counter , fresh investment is only suggested above 331 levels on weekly closing basis, any reversal confirmation leads to levels of 260-220 levels,,
Time to be cautious on this counter.
Now on weekly time frame counter is trading around resistance levels of descending trend line, which is around 310-325 levels,
in last one week counter is consolidating in range 303-315 levels and now able to sustain higher,
Wolf wave formation is observed from the low of 2020 to till date and counter is overbought as per the structure of wedge, 5th wave of wolf wave is almost matured and waiting for reversal confirmation, any weekly bearish candle formation would lead to confirmation of trend reversal in counter,
Bearish divergence on RSI is observed on weekly time frame, price wise reversal can be seen on weekly candle closing below 301 levels,
Its time to book your investment on this counter , fresh investment is only suggested above 331 levels on weekly closing basis, any reversal confirmation leads to levels of 260-220 levels,,
Time to be cautious on this counter.