Chart 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....
Based 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...
Symmetric Triangle on CANARA BANK and it may break either side. Entry based on breakout of the triangle pattern.
Trade Long:
Buy level - 364
Target - 404
Stop loss - 350
Trade Short:
Short level - 335
Target - 304
Stop loss - 350
Cup and Handle formation on Canara Bank and wait to break the top of the cup.
Trade:
Buy - 364.50
Target 1 - 367.50
Target 2 - 370.50
Stop loss - 360.50
Triangle 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...
