Get started
CANARA BANKCANARA BANKCANARA BANK

CANARA BANK

No trades
See on Supercharts
Overview Financials News
Ideas
Discussions Technicals Forecast Seasonals Options Bonds

CANBK trade ideas

Different Set-ups - Same OutcomeHi folks! Often Traders like to think that their set-up or strategy is 'superior' that helps in identifying opportunities and put them on good trades better than other strategies employed by other traders. They vehemently defend their approach, their indicators and strategies. While some may put total faith in Fibonacci Sequences, others on RSI + MACD with Moving Average Cross overs while some others may vouch on Trend Lines and pure Price Action and nothing else, ... and it goes on. In the chat rooms here on TradingView and elsewhere, I have seen raging discussions and disagreements over indicators and it has always amused me. This simple example that I have shared should be an eye-opener to such traders. The fact is no strategy or set-up is superior or gives a definitive edge that another strategy does not. In the example, I only took a small number of 50 set-ups - but astute traders know that there are as many set-ups as there are traders! With so many numerous technical indicators available today, we could show any number of examples of how one or a combination of the technical indicators would have found the opportunity in this example. The bottom line is that it is indeed possible to spot opportunities using a variety of indicators in different ways. It's futile to debate "which indicator is the best". As long as the method (with or without indicators) adopted by you is delivering results, that's all that matters to help you stay profitable and keep you happy. Hope this might be of interest to some of you. All the best to all. PriceCatch
NSE:CANBKEducation
by PriceCatch
Canara Bank Short Selling: A Risky but Rewarding StrategyThis report aims to provide a technical analysis of Canara Bank stock and a recommendation for short selling the stock in the short term. The analysis is based on the latest charts and indicators, and is intended for investors and traders who are looking to capitalize on market movements. Background: Canara Bank is an Indian state-owned bank. The company's stock is listed on the National Stock Exchange of India (NSE) and is widely followed by investors and traders. Analysis: The Canara Bank stock has been in a strong uptrend for the past few months, but recent price action suggests that the stock may be reaching a resistance level. The stock has been trading in a range between 311 and 349.15, and a breakdown below 311 could signal a short-term trend reversal. The technical indicators are also pointing to a potential sell-off. The Relative Strength Index (RSI) has been trending lower and is currently at overbought levels, indicating that the market is overbought and may be due for a pullback. Additionally, the Moving Average Convergence Divergence (MACD) histogram has crossed below the zero line, suggesting that the trend is losing momentum. Furthermore, price action on the chart shows that the stock has reached a strong resistance level and is showing signs of a potential reversal, with bearish cand formation Recommendation: Based on the analysis above, we recommend short selling Canara Bank stock if it breaks 311 levels, with a stop loss of 349.15 and a target 1 of 272.80 and target 2 of 257.65. This strategy aims to capitalize on a short-term trend reversal and capture potential profits as the market pulls back. Disclaimer: It's essential to keep in mind that the market is highly volatile and unpredictable. Therefore, it's recommended to keep a close eye on the price action, and use stop loss and take-profit levels to minimize risk and maximize returns. It's important to conduct your own research and analysis before making any investment decisions, and always consult a financial advisor before taking any action. Conclusion: In conclusion, Canara Bank stock appears to be reaching a resistance level and may be due for a short-term pullback. Technical indicators and price action on the chart also suggest a potential trend reversal. Therefore, short selling Canara Bank stock if it breaks 311 levels with a stop loss of 349.15 and a target 1 of 272.80 and target 2 of 257.65 is a recommended strategy for traders and investors looking to capitalize on market movements in the short term.
NSE:CANBKShort
by EntryandExit
Canara Bank Cmp 307 dated 27-12-2022 Hammer Candle Canara Bank Cmp 307 dated 27-12-2022 1. Hammer Candle on daily chart. Buy above 309 for target 318-325-330 SL 300 Disclaimer : I am not a SEBI registered Analyst so please do your own Analysis before taking any action. The above view is shared just for educational purpose. By no means shall be responsible for any losses amounting out of it incase if any trades on it. It is just a view, please trade at your own risk.
NSE:CANBKLong
by SHEETAL_UDESHI
3