Canarabank
Canara Bank - Positional longOn Closing basis it is above 9 EMA / Vixfix continuously falling, and OBV increasing.
1st Target: 100
2nd Target : 110
Canara Bank - Range Bullish BreakoutNote: This is for educational purpose only.
There is a range bullish breakout with ultra high volume. RSI is above 70 which indicates bullish momentum but also indicates overbought. There is a possibility of consolidation/ side ways movement before next up-move.
Canara bank boxtrading in sideways enter at 98.80 with a strict stop loss or else enter when box breakout upwards for a target of 111
10 Aug to 14 Aug 2020 - Watch Banks that are NR7 candidateThis is the chart of BANKNIFTY nearing a resistance zone. If BANKNIFTY goes above resistance of 21950 , a major move to the next resistance can be kept as target at 23150 .
Another important point to be noted is a lot of bank stocks are NR7 candidate indicating a power move in the next trading day.
Keep Bank Stocks in your Watchlist for Monday 10 Aug 2020.
So as always,
Beware : Please keep in mind and stay away from False Breakout Traps.
Also this is not any recommendation, it is only for educational purpose.
Trade at your own risk.
CANARA Bank Trading SetupDisclaimer: All charts are purely for educational and information purpose only. Invest or Trade at your own risk.
Canara Bank: An opportunity! Keep an eye!1. wait for a breakout
2. enter with a breakout
3. enter on the retest
4. avoid entering on the breakout IF there is a divergence!
Trade safe! Be a responsible and an independent trader!
CANARA bank share is getting momentum .Now on all TFs we can see the canara bank stock is showing strength . On daily time frame break out is already done, now it turns for the weekly breakout above @ level 109. So long entry can be taken here for the next level of 115-118 as this is no trading zone & the major hurdle for the stock. Once successfully cross this level then we can see more strength in the stock. so add the stock in your watch list. Now important point for all learners, previously stock has also crossed this level but could not sustain. so why we are confident because the closing of the stock is above the resit. level. This is called an advance technical analysis most of the Stock gurus teach these techniques in paid version...But here for your learning only.
Always do trading as per your Reward to Risk ratio means Never risk more than you can afford to lose on a single trade. Please keep patience & wait for the levels means Sit and wait for the right opportunity. Request to like & follow for more such ideas of technical analysis learning.The idea sharing is for educational purpose only. In case any suggestion advice required feel free to ask .kindly follow & like for more educational ideas.
Can CANBK deliver?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 long above yesterday's high for a target of 135 and a SL of 97.55.
Synergistic Pattern: Trend-line + Horizontal resistLevels are on chart.
Please like this pattern.
Thank you. Happy Trading!!!
