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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Displays a symbol's price movements over previous years to identify recurring trends.
A representation of what an asset is worth today and what the market thinks it will be worth in the future.
Frequently Asked Questions
The volume of CANARA BANK FUTURES is 94.50 K. Track more important stats on the CANARA BANK FUTURES chart.
The nearest expiration date for CANARA BANK FUTURES is Feb 27, 2025.
Traders prefer to sell futures contracts when they've already made money on the investment, but still have plenty of time left before the expiration date. Thus, many consider it a good option to sell CANARA BANK FUTURES before Feb 27, 2025.
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 54.00 K. 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.