Canara Bank gives positive breakout after a long consolidation NSE:CANBK
Baking sector now looks positive. Now may it will participate Nifty to take it 12000 level. Near all banking stocks are on breakout level. I am posting on of that.
CANBK trade ideas
Canara Bank - Beautiful Bollinger Upper Band BreakoutCanara Bank satisfying all the right conditions for a further upside. Bollinger breakout - Ichimoku Cloud Crossover. Lets see where it goes.
Canara Bank - Range Bullish BreakoutNote: This is for educational purpose only.
There is a range bullish breakout with ultra high volume. RSI is above 70 which indicates bullish momentum but also indicates overbought. There is a possibility of consolidation/ side ways movement before next up-move.
Looks good above 118 with. 98 is good support level.After long consolidation it looks strong with high volume candle.
target of 140 + rs if sustains above 116 + due to symmentrical pattern in canra bank and strong resistance between 114 to 116.8 buy only above 117 or closes above 116.8 .
swing target will be 118 in next few days if respect trend line
Canara Bank Inside candle Break outInside Candle Break out at Monthly chart
Buy @ close of 31 Aug 2020
SL @ low of Aug 2020 month
Canara bank longCanara bank formed WW patern, looks good for upward movement.
Once it crosses 115 then it is good for 133 and 152 levels.
Disclaimer - This analysis only education purpose.
Canara bank (Equity) levels...25/08/2020 (Daily Candle)😊Canara bank (Equity) levels...25/08/2020 (Daily Candle)
BULL : Descending Triangle breakout + Fall on Low VolumeDescending Triangle breakout. Last 2 trading session seems to have closed low on below avg volume.
3 Supporting Trendline(1 Daily & 2 Weekly). Support @ 101, 98
Resistance @ 19.5, 113.55 & 118.20
Long Opportunity - CANARA BANK LTD.Buy CANARA BANK LTD. at 101.30 with Stoploss of 98 & Target of 118 - 120 ; Long consolidated over a period of 2 months ; Stochastic at 25.00 MACD indicating reversal & potential bullish setup
Canara bank boxtrading in sideways enter at 98.80 with a strict stop loss or else enter when box breakout upwards for a target of 111
[ POSITIONAL ] CANBK BUY SETUPRISK : REWARD RATIO 1 : 2
1 ) BULLISH ENGULFING CANDLE
2 ) DEMAND ZONE
3 ) TRIANGLE BREAKOUT
REST AS PER CHARTS
RISKY BET
Bullish Flag break in Canara bankBullish flag breakout in Canara Bank. Long with targets of 109/118/124 with stop at 104.
#CANBK CASH : LOOKS GOOD ABOVE 105.10#CANBK CASH - POSITIONAL
04.08.2020
LOOKS GOOD ABOVE 105.10
STOPLOSS 100
TGT 112/118
CMP 104.45
EWT
Marked on chart. If 3rd wave has completed then we may see correction till 97-95 or we might have already ended it. Move past 104 will confirm that we might have ended correction and now we are up for 5th wave. SL is 93 . Target if 140-150.
Canara Bank Good to enter for positional setupTrading in the stocks market or futures markets is one of the riskiest forms of investments available in the financial markets and suitable for sophisticated individuals and institutions. The possibility exists that you could sustain a substantial loss of funds and therefore you should not invest money that you cannot afford to lose. Nothing in this analysis is a recommendation to buy or sell stpcks or futures and sandeepkumarmeena is not liable for any loss or damage, including without limitation, any loss of profit, which may arise directly or indirectly from the use of this analysis or reliance on such information.
This is one person’s experience, your experience may differ.
TRADE IDEA IS AS PER CHART- RISK REWARD IS VERY HIGH.
canara bank - buy on dipsbuy at cmp for the target 103.4
Disclaimer : This is my personal analysis for study purpose not intended for trading
