Canara bank is trying to attempt a multiyear breakout at the level of 450-465. Moving in HH-HL pattern. Re-Test levels will be around 400-410 After a huge spurt in volume have seen a volume accumulation and now showing a descent volume since last 4 months.
We have a Wave 1 and 2 completed and the Wave 2 has retraced Wave 1 by less than 100% which confirms the Wave 1 and 2 as a complete structure and indicates a beginning of the most awaited Wave 3 According to the Fibonacci golden ratios Price should achieve the 161.80% that is 1331.25 as shown in the chart as well. Wait for the price to come into the...
Canara bank can give a very strong breakout with the strong buying volume in both day and weekly chart . Buy Canara bank at 300 Target 315 330 340 380 Sl 280
I will wait for retracement on NSE:CANBK to take buy entry. Best level to take entry will be 293 with stop loss of 273 (-20 Points). Will hold till targets of 314, 329, 345 & 375. Note: This is my personal analysis, only for learning. Thanks.