CANBK
Inverse Head & Shoulder ReversalChart has formed the Inverse Head & Shoulder Reversal pattern and gave breakout. It is already trading out of Regression Channel so downtrend in hourly charts seems to be over for time being. After breaking out it is retracing so one could use this pull back for a good entry. We can look for a target of above 260.
Disclaimer : All ideas are my personnel view. Please take financial consultancy for trading decision.
My PredictiveEngine's Intraday call(08-May) - CANBK - LongBased on my PredictiveSystem's signals, today (08-May) its going to be a GREEN candle for NSE:CANBK
Buy above: 263.6
Target-1: 265.3
Target-2: 266.6
Target-3: 267.8
Stop loss: 261.1
Note: These calls are based on my own analysis. It may or may not work well for you. So please carefully consider whether it is suitable for you and please do your own research before attempting any. The profit/loss made by you due to this call, is solely your own responsibility. Thanks, All the best. Happy Trading. :-)
Triangle Formation on CANBKTriangle formation on canara bank. Normally, Triangle pattern break either side but here triangle already broken on bull side and lying on resistance level. If the price break the resistance level, then it may move upto 340.
Trade:
Buy above - 310
Target 1 - 325
Target 2 - 340
Stoploss - 295
Reward Points - 30
Risk Points - 15
R : R - 1 : 2
Note : Its positional recommendation, not for intraday.