CANBK has a potential of 20% upside in near term
Updated
CANBK is the only PSU bank stock which is trading at less than 5 PE despite posting 3rd highest profits in last 12M.
I see a lot of potential in PSU bank stocks in long term. Will be investing across PSU banks. Finance sector acts as a beta when nifty makes new highs. So betting on Finance stocks especially PSU banks.
Based on SMC concept, Breakout has happened and likely to touch next level resistance which is 20% upside. CWH also can be drawn with same target. Handle is under formation. Range bound trading strategy also supports this target.
I see a lot of potential in PSU bank stocks in long term. Will be investing across PSU banks. Finance sector acts as a beta when nifty makes new highs. So betting on Finance stocks especially PSU banks.
Based on SMC concept, Breakout has happened and likely to touch next level resistance which is 20% upside. CWH also can be drawn with same target. Handle is under formation. Range bound trading strategy also supports this target.
Trade closed: target reached
Target reached. 20% returns in 99 days. May consolidate a bit here.
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