YR 2022 Idea #82: Long on CANBKThis is a public swing trade idea and is only for Learning and observational purpose. Please understand your risk and take full responsibility of your actions. I might trail my stoploss after I get an entry but even if my original Stoploss hits, i exit the trade with pre-planned loss (risk). At target, I book usually 75% positions and trail stoploss for rest. Our objective to help anyone who wants to learn technical analysis using charts by demonstrating my real trade entries. You can post your queries in comment section here and we will try to answer them asap.
CANBK
Long canbkTarget- 285
SL- 205
Canbk chart is looking bullish with trendline breakout in daily chart
Moving in rising channel
Selling candle volumes are low and buying candles volumes are very high means strength is there from buyer and holding in falling market as well.
ROC, Vortex and RSI is positive for CANBK
quarterly results are very good which is giving strength for upmove
Breakout in Canara Bank...Chart is self explanatory. Entry, Targets and Stop Loss are mentioned on the chart.
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
Canara Bank " up to 23% gains "Hi Traders/Investors,
This is a Swing/Positional Trade.
I can see a possible bullish momentum can still occur in Canara Bank in upcoming period because of,
1) Breakout and Retest of symmetrical triangle pattern .
2) Increase in Volumes in recent times.
3) Breakout of Resistance level ( approx. from 2 years ) with High volumes, as Longer the resistance holds and breaks stronger the move it makes.
4) RSI indicator taking support at 60 and moving upside.
Entry : 240-245 levels
Stop loss : 228
Target : 300
Giving a Risk to Reward of 1:3.5 and Returns up to 23%.
Please don't make any decision solely based on this analysis.
Give a thumbs up if you liked this analysis as this requires deep research.
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
CANARA BANK - Bullish SetUpThe stock has observed a minor breakout of the Symmetrical Triangle Pattern today.
While the volumes were higher than usual, it was not that high to suggest a confirmed BreakOut. It might be a false Breakout.
It surely looks like a candidate for higher targets, but watch closely, and buy if it looks to be closing above 160 for a given day.
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