Canara Bank on verge of breaking down inverted flag patternCanara Bank on verge of breaking down inverted flag pattern. On breakdown, one may consider shorting.
This is not an investment advice.
Canbank
Canara Bank Short Selling: A Risky but Rewarding StrategyThis report aims to provide a technical analysis of Canara Bank stock and a recommendation for short selling the stock in the short term. The analysis is based on the latest charts and indicators, and is intended for investors and traders who are looking to capitalize on market movements.
Background:
Canara Bank is an Indian state-owned bank. The company's stock is listed on the National Stock Exchange of India (NSE) and is widely followed by investors and traders.
Analysis:
The Canara Bank stock has been in a strong uptrend for the past few months, but recent price action suggests that the stock may be reaching a resistance level. The stock has been trading in a range between 311 and 349.15, and a breakdown below 311 could signal a short-term trend reversal.
The technical indicators are also pointing to a potential sell-off. The Relative Strength Index (RSI) has been trending lower and is currently at overbought levels, indicating that the market is overbought and may be due for a pullback. Additionally, the Moving Average Convergence Divergence (MACD) histogram has crossed below the zero line, suggesting that the trend is losing momentum.
Furthermore, price action on the chart shows that the stock has reached a strong resistance level and is showing signs of a potential reversal, with bearish cand formation
Recommendation:
Based on the analysis above, we recommend short selling Canara Bank stock if it breaks 311 levels, with a stop loss of 349.15 and a target 1 of 272.80 and target 2 of 257.65. This strategy aims to capitalize on a short-term trend reversal and capture potential profits as the market pulls back.
Disclaimer:
It's essential to keep in mind that the market is highly volatile and unpredictable. Therefore, it's recommended to keep a close eye on the price action, and use stop loss and take-profit levels to minimize risk and maximize returns. It's important to conduct your own research and analysis before making any investment decisions, and always consult a financial advisor before taking any action.
Conclusion:
In conclusion, Canara Bank stock appears to be reaching a resistance level and may be due for a short-term pullback. Technical indicators and price action on the chart also suggest a potential trend reversal. Therefore, short selling Canara Bank stock if it breaks 311 levels with a stop loss of 349.15 and a target 1 of 272.80 and target 2 of 257.65 is a recommended strategy for traders and investors looking to capitalize on market movements in the short term.
CANBK 16.5% till now, Trail, T3 marked on chart !!!NSE:CANBK
#NSE:CANBK Shared @ 250, trading @ 290, expected target 300.
300 CE bagged 25k/Lot for our friends.
Trail to save your profits.
CANBK T2 Hit, trail nowNSE:CANBK
#NSE:CANBK shared @ 250 now trading @ 270 which is 8%, Trail now or book partial profits.
Share your profit screenshots.
Details in my signature column.
canbank - buycash trade buy @ 226
keeping stop @ 221
looking for target 231-240
disclaimer - trade @ own risk
Head and Shoulder Almost a textbook reversal pattern is formation, might take few months to complete. Just for tracking
CANARA BANK FLYING AFTER BREAKING RESISTANCE ZONE AFTER 3 MONTHSNSE:CANBK Flying from previous resistance breaking it after 3 Months Now we can see the 280-300 soon. you can add it in your portfolio for Medium And long term Pick. I am holding it from 76 RS.
Canara Bank Canara Bank is showing a trend reversal W pattern, with daily T.F volume slightly above average. Let's see if the current day closes above the last swing high. lower T.F consolidation within a 15min range. Let's see if any move from here. The PSU index as well, in the same pattern. SBIN followed the same pattern and closed above. I hope the next Canara bank
CANBK swing trading setupHello Traders👋
Today i have made a post on CANBK - daily time frame
I hope you find this post helpful and informative👍
The targets and stop loss would be given in the charts or they would be according to pivot points
Thank You
—DISCLAIMER—
I am not a SEBI registered financial advisor
Please consider your consultant's advise a must , all the setups posted here will be considered as informative and helpful post
I shall not be responsible for your profits and losses
CANBK ready for BONSE:CANBK
Buy above 160
SL closing below 144
T 166, 175
closing above 180 will give 200+
CANBANK - LongCanara Bank is looking bullish in coming days. Levels you can find on chart.
Disclaimer - Only for educational purpose.
Canara BankCanara Bank (NSE Cash)
Can buy small qty
LTP: 144.95
Support: 143.95
Resistance: 147 / 152.45
Trade Idea #13, CANBANK | Long-term target - 350The reason for 350 Target:
1) The overall setup is bullish
2) The price is trading in a Channel Pattern Monthly TimeFrame , Zoom out to know why I have mentioned the target as 350
3) The bank is taking some reforms and will be one of the top-performing banks in India.
Educational Purposes!
Can Bank - At breakout level, with increase in avg volume. Can Bank - At breakout level, with increase in avg volume.
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 (Equity) levels...25/08/2020 (Daily Candle)😊Canara bank (Equity) levels...25/08/2020 (Daily Candle)
EWT
Marked on chart. If 3rd wave has completed then we may see correction till 97-95 or we might have already ended it. Move past 104 will confirm that we might have ended correction and now we are up for 5th wave. SL is 93 . Target if 140-150.
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!
