We can see the below chart stock has made Triple Top and now trading around monthly as well as weekly Trend Line Support. In the last week, the stock has given small bounce and closed in green and chart pattern is Morning Star. It is not looking very strong chart pattern, however, other than that all supportive signals are positive.
As per our view, we can buy...
Pretty interesting to watch this at this level.
The Inversion analysis suggests to go long at 221 with a strict SL placed at 213 for targets towards 226/228/230.
Watch this space for more such ideas !!!
Looking weak if price slips below 336 we can see extreme downside. If shorting below 337 keep trailing until you see major upside. Enter between 235-234.
Canara Bank Ltd. is an India-based bank. The Bank's segments include Treasury Operations, Retail Banking Operations, Wholesale Banking Operations and Other Banking Operations. The Bank provides personal banking, corporate banking, non-resident Indians banking, Internet banking, and micro, small and medium enterprises (MSME) banking services. Its retail lending operations include education loans and vehicle loans. Its other services include merchant banking; depository services; executor, trustee and taxation services, and online payment services. It handles various government business products consisting of direct and indirect tax collections; payment of pensions of Central Government and State Government; handling of postal transactions and State Government treasury transactions; public provident fund scheme and senior citizens' saving scheme, and issue of inflation indexed bonds of Reserve Bank of India. It has approximately 5,850 branches, including over eight overseas branches.
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CANBK
