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Canarabank

CANARA BANK#CANBK Canara Bank is showing strong potential,especially with the PSU Banking Index nearing a breakout on the upside. A break above this trendline could signal a prime opportunity to add Canara Bank to your portfolio. Investors and positional traders may consider entering at the current levels, as the PSU banking sector has been in a correction phase for nearly a year and now appears ready for a rally. This setup makes Canara Bank an attractive choice for those seeking to benefit from the anticipated upside in the PSU banking stocks.
NSE:CANBKLong
by EmpireCrown
BOB | Trendline Bull Breakout ⭕️ Swing Trading opportunity: Price Action Analysis Alert !!!⭕️ 💡✍️Technical Reasons to trade or Strategy applied :- ✅Triangle Chart Pattern Bull Breakout ✅Breakout confirmed ✅Rise in Volume ✅Good 3 touches Trendline Breakout with volume ✅Clear uptrend with HH & HLs sequence ✅ Order block as potential Target ✅Check out my TradingView profile to see how we analyze charts and execute trades. 🙋‍♀️🙋‍♂️If you have any questions about this stock, feel free to reach out to me. 📍📌Thank you for exploring our idea! We hope you found it valuable. 🙏FLLOW for more ! 👍LIKE if useful ! ✍️COMMENT Below your view !
NSE:BANKBARODALong
by ReviveTraders
CANARA BANK - Ready for a high jump#CANBK CMP : ₹.403/- Date 30-11-23 The third largest PSU bank among public sector banks with good quarterly results. Revenue & profits are increasing on QoQ basis with decent margin. Now it's in a breakout point . A6 year long round bottom have been completed and waiting for an explosion along with the breakout from triangular channel of 2 years old. Good point for accumulation now. Ready for high jump. Potential days are ahead. Expecting 50% movement within 3-6 months time. Stoploss @ ₹.375/- Disclaimer : Post only for educational purpose. Not a buying / selling recommendation. This is only my personal view. I am not a SEBI registered analyst . Do your own analysis and act accordingly .
NSE:CANBK
by DevanNaayar
Hourly timeframe analysis of Canara BankA short-term trade can be initiated based solely on the hourly trendline. This approach offers a trade opportunity with a risk-reward ratio of approximately 2. (Though the potential upside seems considerable, it's wise to consider 2 as a minimum expected ratio.) For this short trade, the stop loss can be determined by looking at the support trendline drawn in the hourly timeframe or the latest low. As for the target, aiming for a price range of 350 to 360 could be a prudent strategy.
NSE:CANBKLong
by popularExpert69803
Exploring Canara Bank Stock: An Breakout of an 11-Year TrendlineIn the world of stocks, interesting trends can often reveal exciting opportunities. One such intriguing situation is happening with Canara Bank's stock. There's an 11-year-old trendline that has been obeyed by the price six times in the past. And now, it appears that a breakthrough is occurring in this stock. If we look at the monthly candle of July 3, 2023, we can observe a breakout from this resistance trendline. This breakout presents a chance for a trade with a promising risk-reward ratio of around 2.7. To explain, the recent low (trading between 270 and 278) can act as our stop loss, while the target lies within the resistance zone ranging from 499 to 514. This is our initial target. However, it's worth noting that we could even aim higher, targeting all-time highs (ranging from 723 to 732). This ambitious goal could potentially yield a remarkable risk-reward ratio of about 6.5. Yet, achieving this could take quite some time and would depend on how the stock's price action and momentum unfold during the journey to the initial target. Delving into entry conditions, we also see some promising signs on the hourly timeframe. The stock has displayed significant price action here as well. The hourly trendline, much like its longer-term counterpart, has been tested around 5 to 6 times in the past, making it a reliable marker. Once this hourly trendline is breached, it could serve as a trigger for initiating long positions. Alternatively, a short-term trade could also be initiated based solely on the hourly trendline. This approach offers a trade opportunity with a risk-reward ratio of approximately 2. (Though the potential upside seems considerable, it's wise to consider 2 as a minimum expected ratio.) For this short trade, the stop loss can be determined by looking at the support trendline drawn in the hourly timeframe. As for the target, aiming for a price range of 350 to 360 could be a prudent strategy. In conclusion, the unfolding breakout in Canara Bank's stock presents an exciting scenario. Whether pursuing a longer-term target or considering short-term gains, the trendline dynamics in both the monthly and hourly timeframes offer intriguing opportunities for investors to consider."
NSE:CANBKLong
by popularExpert69803