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Canara bank has shot up due to news and is at support 403.
So entry only below 394 and SL should be as per SL at 403 for T1 378 T2 343 T3 300
If you are already long keep SL at 394
Why did it fall because the 5 wave impulse was complete . I have not shown the Elliott channel it would be cluttering . But it sticks to the Elliot channel.
Shorting a bull market is not good.
So a buy at 283 (preferable) or at 250 ( u may not get).
I have observed that ABC after wave 5 is always bought into . So wave 5 in an impulse or a correction has been ...
As there is breakout of the pattern its time for short sell,i just takes decision once the market is started.
As once the market starts moveing downward we may opt for short sell till it reaches support line.
stock has broken the triangle
one can look into this stock at current levels
for target towards 335/330
CANBK is on uptrend and correcting after breaking it's trend line on weekly and daily chart. Breakout was considered as trend reversal Currently we are expecting this is long term correction and can expect 400+ target.
We are tracking as nested impulse count and breakout of 300 is also confirm completion of shorter correction. Lower time frame decoded micro count ...
everyone , every channel is calling for buy, immediate resistance is at 318. if you see candle pattern prior two days you will notice exhausion bar. it has to cross this resistance this to go up
CANARA Bank heading towards 290 as per chart...
Canara Taking support. If holds good move possible