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.
Canarabanklong
Canara Bank Rally ContinuesNSE:CANBK has given a solid breakout and a stop loss at 365 can be followed. PSU banks are looking strong and hence, you should hold this one with discipline. PSU banks are leading the current rally. Canara Bank also gave a strong monthly chart breakout a few months back and now is back in strong momentum.
Triangle Breakout - FII/DII InvestingCanara Bank has a strong PE ratio advantage followed by increasing stake of Institutional Investors in Sept Quarter
It recently broke out of its Traingle Pattern and has shown some upside. I recommend buy on dips and hold for gains in mid to long term.
The P/B Ratio is below 1 and there is less risk involved comparitively as PE ratio is also half of that of peers.
A strong quarterly result can also boost the share price, it might to interesting to see if a pullback from such RSI comes soon.
Note: This is only for Educational Purposes. Please do your due diligence before taking a trade position.
Keep Learning :)
CANARA BANK DAILY CHARTHi 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
Canara Bank looking BullishMedium-term Swing Trade (2-7 weeks)
(Purely Price Action based trade)
Canara Bank has posted very strong quarterly and yearly results and looks bullish in the future.
It is approaching a very strong supply zone of Rs. 170-177 where it has faced rejection multiple times previously.
If this zone gets broken with a good momentum and volume the following trade can be entered into:
(Levels and analysis mentioned on the chart)
Entry Price : Rs. 176-178
Target 1: Rs. 190
Target 2: Rs. 205
Target 3: Rs. 235
___________________________________________
High Risk Traders can also enter at CMP for:
Target 1: Rs. 172
Target 2: Rs. 190
Target 3: Rs. 205
Target 4: Rs. 235
(The R2R Ratio is not very favorable in this trade)
Cheers!