Are we late in entering Canara Bank? Or do we see more upside? The stock broke from a consolidation zone when it crossed 92 and has already moved 14% in 7 sessions. After a minor correction, the stock has resumed its bullish journey which gives us greater confidence. Wave trends also indicate a strong outlook. On the weekly chart, there's an MACD crossover. Go...
Canara Bank
- Canara Bank trading at lower end of the channel
- Level of 85.50 - 86 needs to protected for further upside movement continuation
- holding the same the stock may again attempt for 93 / 95.50 / 102 / 107
- Stop loss if Canara Bank closes below 83.50 on a hourly candle basis
Alternatively one may consider the following F&O strategy for Canara...
Key Levels for CANBK :
Upper Breakout~93.85
First Target~96.35
Interim Resistance~99.60
Final Resistance~103.45
**Lower Levels**
Lower Breakout~90.15
First Target~87.20
Interim Support~84.90
Final Support~82.15
Please trade with caution and consult your financial adviser before trading.
