RK_Charts

CANARA BANK

Long
NSE:CANBK   CANARA BANK
Canara bank stock has given breakout with good intensity of volume in both daily and weekly time frame, as the banking stocks started to pick up pace, canara bank's price action along with indicators had confirmed positive trend ahead,
on monthly basis it had made high then higher low, then higher high again higher low, and on weekly basis wave structure suggests same trend ahead as impulse, this indicates that this stock can be a good to go long at these levels or in dips (if any) with stoploss of 147, all the key levels are mentioned in chart with Stop-loss and targets.


Wave Structure
Key Levels are Mentioned on chart
Breakout with good intensity of volume
Zoom in Daily time frame
Macd in monthly bullish
Macd in Weekly Uptick and also above zero line
Macd in daily positive crossover and Uptick and also above zero line
Rsi in monthly uptick
Rsi in Weekly Uptick at 60
Price near upper bollinger band in Weekly
Dmi adx also positive Ungali setup in Weekly and daily
All three emas are positive in daily
Stochastic is positive and Uptick and also having good space to go in Weekly
Stochastic in daily positive crossover and Uptick and also having good space to go

Disclaimer.
I am not sebi registered analyst.
My studies are Educational purpose only.
Consult with your Financial advisor before trading or investing.

Follow us on Telegram : https://t.me/RK_Charts
Twitter : @charts_rk
Email : rkcharts@gmail. com
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.