CANBK trade ideas
CANBK: SELL@319.4 SL 325.2 TGT 297CANBK sold with 3 times of average volumes on NSE today with loss of close to 5.6% which is a significant down-trend. Since the stock is PSU and is Short-term, Medium Term and Long-term in Downward trend. Recommend to Sell CANBK @ 319.4 with Stop-loss of 327.5 and Target of 297.
SHOT-Trend line breakdown+good volume+gap{it will fill the gap}SHORT Canara bank for target of 320.6 in futures as we know mostly if stocks gap up open or gap down one day it will come to fill the gap in many cases its true,so most possible situation here is 1]its a gap,2]trend line broken,3]breakdown with good volume.
CANARA BANK studyCANARA BANK study
200 Day SMA support + Channel Bottom support
330-350 zone is going to be a crucial support
CANBK:: Buy for Mid termAccumulating Area 340-363 Target 380-395-413-438 Stop loss 325-329
Positional Levels are:
326 339 358 380 395 413 438
Cheers!
canbk at tangent t 310 breakdown, 463 breakoutCanbk chart at make or break level 349 is support area breaching which t1 310
its at tangent too breakout to complete rectangle to 463
hedge and go long
buy canb future at 357 -360 buy 380 pe for best risk to reward
#CANBK - @61.8% retracement level & near 50 SMACANBK has taken support near 61.8% FIB level of 360 & also 50-Day MA is @ 355. Looks like downside has been capped.
CANARA BANK not so falling after allStock was trading in a perfect downward channel before the government infused the recapitalization (news unexpected/not anticipated/not factored in)
The stock saw a robust breakout from the channel with a huge gap-up
Stock recommendation is strong because usually after break-out with huge gap up the price tend to cover the gap and in this case it did try to do that
But little we know it ended up creating a falling wedge pattern which also tends to break-out on the upside whereas rising wedge always tend to break on the downside
NOTE:-"The pattern has a validity of 55% as compared to other patterns, this one is not amongst the few reliable ones but end up giving huge reward
"Considering the PSU banks index and the new breakout of bank nifty to all time high i see further upside in this stock"
TRADE VIEW
BUY @ 380-390
STOP @ 371.15
TGT @ 405/415
CANBKCanbk On Hourly Chart is moving in falling downward channel.
Be positive Only if it sustains above 402.
Resistance at 424-428
But am Kind of Positive that this will break on Upside..
CANARA BANK - Short ideaCanara bank has shot up due to news and is at support 403.
So entry only below 394 and SL should be as per SL at 403 for T1 378 T2 343 T3 300
If you are already long keep SL at 394
CANBK- On Hourly ChartsCANBK On Hourly Charts.
Awaiting Breakout or Breakdown.
All Good Till its trading above 398
Sustaining above 408 this can move towards 418/430
Canbk hourly Flag pattern.. ready for breakoutCanbk cash good above 430 SL 423 Tgt 438-440/450/475 - Positional
Revised Weekly Out Look I am looking this stock will correct further, down ward limit can be 225/226 with in 4 to 6 weeks
After an impulsive move down ward in early 2015 to early 2016 the stock went for correction wave A and new the stock is in Corrective wave of B which will end near 225/226 range after that we can C leg and followed New leg of impulsive wave is possible
Regards
Uranium 235 , This time its Kaboom Wanna Know check out The stock is in end of correction on Mid term range , on Longer term its Going to make higher high
I am looking to buy Drop in the Zone 282 to 255 accumulate on every 3 Point drop with stop as specified for target of 520+ in 6 Months
Regards
CANBANK sell at CMP 307Will go for short in CANBANK at CMP 307. As the stock is trading bellow its 200 day MA. Considering 322 as SL go for Target 281, 264
Weekly Out look on Canara Bank I am looking this as possible ascending Bull Channel Formation
I will up updating if the confirmation of second test to lower channel and reverse the price action
Regards
