#CANBK Pending correction ?Stock could possibly face correction considering the massive up-move and the signs of momentum slowing down with weakness and bearish patterns . Price breaking down the channel could trigger a move south Plots on the chart for reference .Shortby srinivasbusyUpdated 1
Hourly timeframe analysis of Canara BankA short-term trade can be initiated based solely on the hourly trendline. This approach offers a trade opportunity with a risk-reward ratio of approximately 2. (Though the potential upside seems considerable, it's wise to consider 2 as a minimum expected ratio.) For this short trade, the stop loss can be determined by looking at the support trendline drawn in the hourly timeframe or the latest low. As for the target, aiming for a price range of 350 to 360 could be a prudent strategy.Longby popularExpert698031
Exploring Canara Bank Stock: An Breakout of an 11-Year TrendlineIn the world of stocks, interesting trends can often reveal exciting opportunities. One such intriguing situation is happening with Canara Bank's stock. There's an 11-year-old trendline that has been obeyed by the price six times in the past. And now, it appears that a breakthrough is occurring in this stock. If we look at the monthly candle of July 3, 2023, we can observe a breakout from this resistance trendline. This breakout presents a chance for a trade with a promising risk-reward ratio of around 2.7. To explain, the recent low (trading between 270 and 278) can act as our stop loss, while the target lies within the resistance zone ranging from 499 to 514. This is our initial target. However, it's worth noting that we could even aim higher, targeting all-time highs (ranging from 723 to 732). This ambitious goal could potentially yield a remarkable risk-reward ratio of about 6.5. Yet, achieving this could take quite some time and would depend on how the stock's price action and momentum unfold during the journey to the initial target. Delving into entry conditions, we also see some promising signs on the hourly timeframe. The stock has displayed significant price action here as well. The hourly trendline, much like its longer-term counterpart, has been tested around 5 to 6 times in the past, making it a reliable marker. Once this hourly trendline is breached, it could serve as a trigger for initiating long positions. Alternatively, a short-term trade could also be initiated based solely on the hourly trendline. This approach offers a trade opportunity with a risk-reward ratio of approximately 2. (Though the potential upside seems considerable, it's wise to consider 2 as a minimum expected ratio.) For this short trade, the stop loss can be determined by looking at the support trendline drawn in the hourly timeframe. As for the target, aiming for a price range of 350 to 360 could be a prudent strategy. In conclusion, the unfolding breakout in Canara Bank's stock presents an exciting scenario. Whether pursuing a longer-term target or considering short-term gains, the trendline dynamics in both the monthly and hourly timeframes offer intriguing opportunities for investors to consider."Longby popularExpert6980310
12 years breakout. don't miss this golden opportunity.Descending channel breakout in canara bank. current price - 327 .Target - First target -420, Second Target -500, Third target - 550. StopLoss - 315. hold for at least 1-1.5 yearsLongby The_Breakout2214
Canara bank looking strongCanara bank all RSI above 60 & relative strength is above zero and risingLongby Vir77222
Parallel channel--wait for the correction and Buy above 340 --RSI near to over bought --strong buyersLongby shreks14Updated 2
Canara Bank08/07/2023 Canara Bank CMP 333.70 If Closed above 340 Target : 412 Information is only for study purposeLongby vikas011978Updated 5
Long position in canara before resultsCMP-339.50 Target 1-360 Target 2-365/370 Stop loss -332 Current banking sector showing good positive uptrend and likely to see also in canara and result on 25 jul will likely to be nearly or above of extected due to more lone distribution and low npa Longby Eagle_eye_z1
canara bank. break out and retest donethe stock has broken out of consolidation and has also done the retest. RSI is trending and RSI MA is raising. Also the counter has seen an increase in volume. my view: buy above 340 with sl at 330. the target could be 359/371/396 I am not SEBI registered RA. This is my personal view and is not an invite to trade. please do your own due diligence before investing Longby Trade_with_Raghu1
canbk - sell on riseSell > 334 upto 336 sl close above 336.15 easy tg - 329 tg2 - 325 Disclaimer : This is my personal analysis for study purpose not intended for trading.Shortby ShreeGanesh_1991Updated 113
Canra bank longWe have picked this script with our community members at 320 for the Target of 400. Safe traders can enter above 340.Longby Tradezonemohit2
Canara Bank: Breakout on ChartsStock has formed a bullish candle on Weekly time frame as stock breaks from an ascending pattern. Levels to watch R1: 362 R2: 387.5 R3: 411 S1: 287.75 Longby chandakpulkit223
Canara Bank - on the verge of a breakout...Canara Bank looks good with a strong bullish candle formation on the weekly chart. Positive momentum above 342, with strong support zone between 300-290 on the downside - below which 270 could be an important level. Note: Not a buy/sell recommendation.Longby TheUnlearningOne222
Bullish pennantChart -> Canara Bank Weekly Bullish pennant breakout on the chart. CMP: 333 Good Range To Buy: 315 to 335 Targets: 370, 415 SL: 293 Weekly Close Disclaimer: This is for educational purposes only, not any recommendations to buy or sell. As I am not SEBI registered, please consult your financial advisor before taking any action.Longby kathanthakkar4032
Canara BankScrip has been strong entire week post range breakout ...possible move to 380 ++ levels.Longby Samarth16100
Canara bank continuation of weekly uptrend.Canbk has given a closing of 333.70 which is higher than previous swing levels. 341 zone are the all time high zones of Canbk. Crossing 341 resistance zone can lead to creation of new ATHLongby spvijay2
CANBK - Weekly AnalysisIn the Weekly Chart of CANBK , we can see that; it has given Cup & Handle Pattern Breakout which is inside a Big Cup & Handle. If it retest the inner Cup & Handle, you can take an Entry at 315-320 with an SL of 302 with target of 460-462. Possible momentums are shown in chart. Longby JatinManani5
CANBK Demand ZoneI Figured out Demand Zone for CanBK May consider trading once in these zone levels BD/BO happensby piyushbafna0000
CANBK Bearish Divergence by RSI Canara Bank (CANBK) is showing bearish divergence with momentum and price which means that upmove is losing it's momentum How can i say this ? Because Prices are rising and momentum (RSI) is not rising in the given direction which shows lack of strenght, doesn't mean it cannot move upwards but the probability of moving down is more. This view can help us,if not short then atleast staying light on the upside.Shortby piyushbafna0001
Canara Bank Long Positional Cananra bank currently at demand zone it took support multiple times here before rallied back to high expecting the same low rish high reward at current level. Buy at Current Market Price at 270 to 275 stop loss swing low or 265 keep 5 points buffer. Targets of 285 ,300 and 310.Longby rakeshreddymUpdated 337
CANARA BANK - Good For SwingCanbk ready for breakout . Looking good for swing More strength above 324 Volume Breakout Upside Targets- 350-60-70 Longby YASHSINCE19958