As on 18/09/2018, Canara bank is in downtrend.
Resistance Level: 250.88
Support Level: 243.28
As per fibonacci and trend lines, Canara bank still appears bearish.
Sell Canara bank for targets 240/234.50/225.20 with stoploss 257.25
Chart has formed the Inverse Head & Shoulder Reversal pattern and gave breakout. It is already trading out of Regression Channel so downtrend in hourly charts seems to be over for time being. After breaking out it is retracing so one could use this pull back for a good entry. We can look for a target of above 260.
Disclaimer : All ideas are my personnel view. ...
Triangle formation on canara bank. Normally, Triangle pattern break either side but here triangle already broken on bull side and lying on resistance level. If the price break the resistance level, then it may move upto 340.
Buy above - 310
Target 1 - 325
Target 2 - 340
Stoploss - 295
Reward Points - 30
Risk Points - 15
R : R - 1 : 2
Note : Its ...