CANBK trade ideas
CANARA BANK prepared for 5th wave journeyBuy in the range of 100-105 with a SL of 95 , for a target zone of 125-130.
Long CANBKPrice is decreasing with decreasing volume this convey that in near future price can reverse its trend. (Long opportunity)
CANBK has formed a support and trading near the support. Buying on this position can give very good RR ration.
Tomorrow's Approach CANBK: Intraday Trade/As a trader, you have to trade in probabilities. There is never certainty in the markets. Only after Confirmation take the trade.
CANARA seems to be recovering ?CMP : 102
SL : 98.50
Target : 110
1:2 Risk reward setup
1) PCR / Open Interest data looks very bullish
2) RSI divergence in 30 min's time frame
CANBK forming cup and handlelooks like stock is forming cup and handle. This should be on your radar for breakout
Prices moving in 3DWait for prices to come out of 3D environment. Ranges are doubling themselves. Probably we may find entry near bottom of current ranges, if we are lucky.
CanbankCanbank Break Fibonacci level of 23.6 so you can add in your Buy List.
Entry Price: 118
Stop loss:108
Target:130
Please Enter and Exit as per Strick Target and Stoploss.
CANBK SELLSELL canbk below 108
with stoploss 119
for target 100,92
result is also bad so it's good conformation
Next move I am looking for this kind of pattern in this scrip
it is Going to Go 115+ but will it Go from this current level ? or it will give an sharp correction before making its move to target
I have no idea ,
I am just forecasting it as per pattern formation
Look for buy set up , in case it drops sharply
CANARA bank share is getting momentum .Now on all TFs we can see the canara bank stock is showing strength . On daily time frame break out is already done, now it turns for the weekly breakout above @ level 109. So long entry can be taken here for the next level of 115-118 as this is no trading zone & the major hurdle for the stock. Once successfully cross this level then we can see more strength in the stock. so add the stock in your watch list. Now important point for all learners, previously stock has also crossed this level but could not sustain. so why we are confident because the closing of the stock is above the resit. level. This is called an advance technical analysis most of the Stock gurus teach these techniques in paid version...But here for your learning only.
Always do trading as per your Reward to Risk ratio means Never risk more than you can afford to lose on a single trade. Please keep patience & wait for the levels means Sit and wait for the right opportunity. Request to like & follow for more such ideas of technical analysis learning.The idea sharing is for educational purpose only. In case any suggestion advice required feel free to ask .kindly follow & like for more educational ideas.
Swing / Positional opportunity 25% to 30% (Flag Pattern)Flag Pattern is forming, upon breakout of 107 level, the price can move easily 132 to 135, that is almost 25 to 30% price movement can expect in a month time.
Aggressive traders can enter now itself, as the Buyer volume is almost 8 million, during the fall only 813k volume you can cross check the volume spike in chart.
CMP : 101.45
SL : 92 (Aggressive traders)
Target : 132+
Can expect some news to support our pattern !
Please don't panic on fall, because NIFTY is highly volatile, it will settle soon.
Can CANBK deliver?Are we late in entering Canara Bank? Or do we see more upside? The stock broke from a consolidation zone when it crossed 92 and has already moved 14% in 7 sessions. After a minor correction, the stock has resumed its bullish journey which gives us greater confidence. Wave trends also indicate a strong outlook. On the weekly chart, there's an MACD crossover. Go long above yesterday's high for a target of 135 and a SL of 97.55.
Small MovementGo for small moves.
Do quick entry-exit.
Days are becoming harder to predict.
Don't expect or wait for long big moves.
This month is small move month.
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