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.
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 - 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
Buy above 247, stop 244, targets 250.5, 254, 258 and 262.
Reasons to buy: -RSI above 60 -MACD Crossover - High volume than previous days! - Out of F & O ban, at least for the next two days!