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
ON HOURLY CHART , MINOR HEAD AND SHOULDER IS FORMED ( AS ONE SHOULDER IS NOT VERY SHARP) , WITH HEAD ON THE RETRACEMENT OF 0.618
WHICH ACT AS SUPPORT ON DOWNSIDE .
WE CAN COMFORTABLY SHORT 150 PE AT CMP 0.30
WHICH CAN LEAD TO PROFIT OF APPROX 5 PERCENT IN 10 DAYS
SUBDUED PERFORMANCE Q ON-Q IN US MARKET, RUPEE APPRECIATION.....US PRICING PRESSURE.....SATURATION IN THE HIGH BASE SALE
ALL THESE FACTORS LEAD TO FUNDAMENTAL WEAKNESS
The overall sentiments of ubl is bearish, because of volume and profit margin decrease due to highway sale ban of liquor
the oi interpretation shows that longs are in the system, there unwinding start taking place .
i will suggest to short the short
