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
