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
CANBK trade ideas
Canara bank - Will it break the triangle?Canara bank has formed triple bottom and has bounced from its support level.
Will it break the triangle in this bounce?
Go long above 330
T1 - 338
T2 - 352
SL - 315
Canara Bank trading weekly trend using Bolinger BandBearish Engulfing pattern on weekly chart confirmed downtrend . Stock can be shorted during pullback at upper Bollinger Band on 1 hr chart @ 348
Canara BankBearish ABCD Completed with good Ratio & a Red Candle looks like good shorting Opportunity for Few Points
canara bank long trade if canara bank take support here at 0.50 retracement move upward with nifty and bank nifty then we can enter with long position on every possible opputinity
Canara bank - Symmetric triangle - Theta decay trade C has formed a symmetric triangle and has recently broken its resistance and going towards 350 range. It has a strong support at 330 range.
One can sell 330 PE at 1.50
Inside Trend Breakout on CanbkInside Trend Breakout on Canbk.
Trade:
Long Entry - 344
Target - 356
Stop loss - 339
Formation of symmetrical Triangle breakoutFormation of symmetrical Triangle breakout, Buy closing above 345 with Strict SL of 325 Trgt 365-380-400
Pattern Series 3 - Falling Wedge!Rising wedge is a bearish pattern . Price range is wide in the bottom and narrows when price moves higher. Volume will decline as prices rise and the price action forms a wedge . Price will fall when the support is broken. Falling wedge is a bullish pattern. Price will move up when the resistance is broken.
Canara Bank - Enters in to bear gripShort CANBK for target of 310, 300 & 290. SL 335. high RR set up. Only who can manage risk can enter now. It may be achieved by September.
Canara BankNotes on the chart.
Hit like/comment if above information is useful.
Trade safe.
Regards
Bravetotrade
canbnkCanbnk reached important Support Zone and have created a Bullish Harmonic Pattern, One can look to buy this with small SL of close below 315
Target 340/360
Canara Bank 60MBank Nifty is cracking big time and PSU banks are feeling the heat. The Bollinger Band widening and the ADX and DI are garnering momentum that could look to take this high beta stock much lower. One can look to short it for a drop down to 331.
Possible One more Corrective Structure before Drop I am looking this stock will rise again as corrective before heading for major reversal
Lets see how it unfolds
Regards
Canara Bank - ChannelPrice action is trending in the upward channel and also has formed double bottom. Buy above 364 with the stoploss of 361. Targets are 368. 371 and 373. Sell below 361 with the stoploss of 364. Targets are 358, 355 and 352.
Possible long trade set for day trade I am looking the stock is on high point Near Daily Descending TL and if the stock brakes the 370 can lead to tag 400/417 again
and if the stock heads to lower level can come and tag 355 which is ascending TL on daily chart
Lets see how it unfolds tomorrow
Regards
Symmetric Triangle on CANARA BANKSymmetric Triangle on CANARA BANK and it may break either side. Entry based on breakout of the triangle pattern.
Trade Long:
Buy level - 364
Target - 404
Stop loss - 350
Trade Short:
Short level - 335
Target - 304
Stop loss - 350
Canara bank.......above the cloud.Canara bank has closed above the daily ichimoku cloud & has formed a bullish candle after touching the 20 dma. Buy above 365 for the targets mentioned in the charts. This is just my view , trade according to your risk management.
Canara Bank - Trendline broken!Buy above 353 with the stoploss of 350. Targets are 357, 360 and 365. Sell below 348 with the stoploss of 351. Targets are 344, 341 and 337.
Wave 4 of the same degree or wave 4 of one lesser degreeWhy did it fall because the 5 wave impulse was complete . I have not shown the Elliott channel it would be cluttering . But it sticks to the Elliot channel.
Shorting a bull market is not good.
So a buy at 283 (preferable) or at 250 ( u may not get).
I have observed that ABC after wave 5 is always bought into . So wave 5 in an impulse or a correction has been truncated
