This is the pure PRICE ACTION based analysis of Canara Bank stock.
Since it made a double bottom with rsi divergence, it has to come up.
Also it is consolidating up side with rsi also, there is more likely to go long.
Scrip: Canara Bank
Setup : Price at 52 week high, Chikou in open area, Ride the momentum for quick 10%-20% gains
Entry : 185 - 195
Target - 225-228 range (20% gains)
Stoploss: This is positional trade and determination of Stoploss should be based on ones risk profile.
150 should be good zone to add more to the position.
Please note: I am not a SEBI registered...
Hi there, this is a chart of Canara Bank.
so this week we had a breakout. in the triangle pattern and the price is pulling back to the (resistance turned to support).
Entry price will be around 171.70 levels
SL : 167.75
Target : 183.40, 230.00
Hoping to see Good trading opportunity
In live market cannot describe much
Canara bank has broken its previous supply zone which is now a huge demand zone and also a Harmonic half bat pattern
Buy at current levels @175 stop loss @170
Targeting 30% as first target as its a major breakout
Will not keep SL personally will keep adding at dips
Multitimeframe trendline BO +Ascending triangle + channel BO + good volume + trading above all MA
Target @245 ( 40%)
check our Recent analysis from related idea
FOLLOW , LIKE , COMMENT & SUPPORT
All PSU bank stock might outperform in the coming months. I am targeting Canara Bank and Bank of Baroda. We might see a breakout in Canara bank from these levels. The Current CMP is 176.85. I have bought shares of Canara bank at 174 and targeting till 200. If it sustains a physiological level of 200, we might see 225-230 levels.
Time Frame: 1-2 Months
Canara Bank break the resistance level of 163 and it is making ascending traingle from April.
Now it time to break the level, you can buy this trade once it cross 164.5,
Short term target is 170.
What's your view on this comment below in the box.