Hi there, this is a chart of Canara Bank.
so this week we had a breakout. in the triangle pattern and the price is pulling back to the (resistance turned to support).
Entry price will be around 171.70 levels
SL : 167.75
Target : 183.40, 230.00
Hoping to see Good trading opportunity
Its the time of the PSU's. With reforms in the sector like a bad bank +IBC most PSU's are recovering a lot of money.
Have been bullish and shared this co since 150's..
Long at CMP..the stock has had a nice breakout after a VCP..
As i think this is a company worth holding for many years going forward SL of 147.
PSU banks trade at half their book value which is...
NSE:CANBK
Canara Bank is forming Bullish Peanut pattern in 1D and 1W chart
Breakout is yet to come.
If Breakout comes we can Expect A big move in it for a holding period of few weeks from
Buying day.
Target and Stoploss are given in the chart
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(NOTE - This Research is only for Educational purpose So...
Canbk- CMP 157.45. Can be bought on CMP and on declines up to declines to 150 with a sl of 143 CLBS for a tar of 162, 168, 178, 189, 200 and above. It is on verge of breakout and coming out of consolidation and came out of F&O ban today onwards are positive indicators for upmove.
As u see on chart, Price is in continuously Uptrend and given nice Breakout of important level of 170-175, Nice Volume building-up Continuously
HIGH PROBABILITY POSITIONAL TRADE OPPORTUNITY
BU ABOVE 180 FOR TGT 240-280+ SL@140
