Now on all TFs we can see the canara bank stock is showing strength . On daily time frame break out is already done, now it turns for the weekly breakout above @ level 109. So long entry can be taken here for the next level of 115-118 as this is no trading zone & the major hurdle for the stock. Once successfully cross this level then we can see more strength in the stock. so add the stock in your watch list. Now important point for all learners, previously stock has also crossed this level but could not sustain. so why we are confident because the closing of the stock is above the resit. level. This is called an advance technical analysis most of the Stock gurus teach these techniques in paid version...But here for your learning only.
Always do trading as per your Reward to Risk ratio means Never risk more than you can afford to lose on a single trade. Please keep patience & wait for the levels means Sit and wait for the right opportunity. Request to like & follow for more such ideas of technical analysis learning.The idea sharing is for educational purpose only. In case any suggestion advice required feel free to ask .kindly follow & like for more educational ideas.
Always do trading as per your Reward to Risk ratio means Never risk more than you can afford to lose on a single trade. Please keep patience & wait for the levels means Sit and wait for the right opportunity. Request to like & follow for more such ideas of technical analysis learning.The idea sharing is for educational purpose only. In case any suggestion advice required feel free to ask .kindly follow & like for more educational ideas.
Trade active:
Made high 113
Trade active:
Made high 115.75
Trade active:
Now Testing higher resistance Zone as mentioned above.
Trade closed: target reached:
made high 118