Elliot Wave Count:
Fall from Feb 2022 highs is in 3 Wave as ABC which is (W)
Rise is an (X) Wave with Lot of Overlapping, Falling Volumes and a Bearish RSI Divergence
Now Wave (Y) on the Downside is playing out
Downside Targets:
T1= 195
T2= 180
T3= 155
Stop Loss above 241
Hi guys we will buy Canara Bank because it has fallen quite a lot after the crash and has stabilized a little bit and if we look at the Us and
the India markets they are looking bullish so Canara Bank will also show signs of bullishness and it would be pretty good trade.
That's all make sure to follow and like
Bye
chart pattern suggest, ready for long term trendline breakout.
a breakout at trendline will bring in potential upside of 70-90% upside.
250 level is going to be crucial level,
on weekly chart price consolidated between 220 to 240 for 6 weeks. potential breakout will bring good returns in short term.
keep it on radar.
Canara Bank reported healthy earnings led by robust NII/Loan growth and controlled provisions. Margin expanded 6bp QoQ aided by improvement in CD ratio. The bank further carried 25% provisions on its SREI exposure. The management is confident of sustaining growth in advances led by a broad-based performance across all segments and has a strong focus on bringing...
technically canarabank is given bullish signal to take long view...
broken trendline
comeback to the keystructural zone..
fundamentally very good stock.. based on results
NSE:CANBK
One Can Go long with a Strict SL below the Trendline or Swing Low of Daily Candle.
Close should be good, and Clean.
R:R ratio should be 1 :2 .
Disclaimer : You are responsible for your Profits and loss, Shared for Educational purpose
Stock could slide down to the plotted levels at the break of amber plot
Disclaimer:
The content of the idea and the interpretation of data are solely my personal views which being said I do not warrant its completeness or accuracy.
This idea published is purely intended for educational and informative purposes, I urge traders to make their own trading decisions...
Hello and welcome to this analysis
Like all PSU Banks saw a very good 2021 in terms of price performance thereafter in 2022 it went into a correction mode in line with market trend. The structure of the fall as can be seen in the chart is of a slanting channel currently.
If it manages to break above 235 then 244 is the 1st line of resistance, above that 255 is...
canara Bank has retraced from highs of 222 around. Now Can see taking support at .382 % also cloud support here..
Minimum target will be 222 that can extend to 234
Stop loss should be around 201
Canara Bank Cmp 229 dated 22-7-2022
1. Rectangle BO @227
2. Doji Candle on chart.
Buy above 332 for a tgt of 237-252-260-275 SL 217
It is just a view, pls trade at your own risk.
swing call canara bank looking for target of 236 and stoploos 216 closing basis on day entry between 220 , 219 high volume breakout and sector is improving
added chart for education purpose
This is a public swing trade idea and is only for Learning and observational purpose. Please understand your risk and take full responsibility of your actions. I might trail my stoploss after I get an entry but even if my original Stoploss hits, i exit the trade with pre-planned loss (risk). At target, I book usually 75% positions and trail stoploss for rest. ...
CANBK looks bullish
Channel breakout with high volume
Breakout the last swing
Break out from important registance zone
Target and stoploss are marked in chart.
This is for educational purpose. Please follow your own analysis.
Canara Bank engages in the provision of commercial banking and financial services. It operates through the following segments: Treasury Operations, Retail Banking Operations, Wholesale Banking Operations, Life Insurance Operation, and Other Banking Operations. The company was founded by Ammembal Subba Rao Pai on July 1, 1906 and is headquartered in Bangalore, India.
NSE
