C A N A R A B A N K CANBNK Fut made flag n pole pattern on an hourly charts with decent OI addition suggesting long build up & its about to break out of formation.
Could be bought with mentioned stoploss & target.
Canara Bank is in the Resistance area !!!The chart shows the price near to the Resistance level
Note that once a 38% retracement is taken place.
Now it can be either a breakout from the present level or correction
Note: For educational purpose
CANARA BANK TECHNICAL ANALYSIS.CANARA BANK - 4HR TF Analysis
It has formed good base at 186-196 levels , from where it has given bounce back.
It was resisting from a trendline since last 2months, recently it gave breakout from that resisting trendline.
BUYING RANGE 219-22
TARGETS 233-247-264 - 274
CANARA BANK LONGReasons to buy:
-RSI above 60
-MACD Crossover
- High volume than previous days!
- Out of F & O ban, at least for the next two days!
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A representation of what an asset is worth today and what the market thinks it will be worth in the future.
Displays a symbol's price movements over previous years to identify recurring trends.
Frequently Asked Questions
The current price of CANARA BANK FUTURES is 108.99 INR — it has fallen −1.08% in the past 24 hours. Watch CANARA BANK FUTURES price in more detail on the chart.
The volume of CANARA BANK FUTURES is 24.37 M. Track more important stats on the CANARA BANK FUTURES chart.
Open interest is the number of contracts held by traders in active positions — they're not closed or expired. For CANARA BANK FUTURES this number is 254.60 M. You can use it to track a prevailing market trend and adjust your own strategy: declining open interest for CANARA BANK FUTURES shows that traders are closing their positions, which means a weakening trend.
Buying or selling futures contracts depends on many factors: season, underlying commodity, your own trading strategy. So mostly it's up to you, but if you look for some certain calculations to take into account, you can study technical analysis for CANARA BANK FUTURES. Today its technical rating is buy, but remember that market conditions change all the time, so it's always crucial to do your own research. See more of CANARA BANK FUTURES technicals for a more comprehensive analysis.