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Canarabanklong

Canara Bank Trend AnalysisThe bank merged with Syndicate bank effective from 1st April 2020. Post merger, it became the 4th largest PSU bank in India. Then its branch network increased by 4,000 branches and 4,500 ATMs. Presently, the bank operates 10,500 branches and 13,000 ATMs across India. It also operates 5 international branches in overseas countries. 45% of its branches are located in southern region of India and 60% of its branches are located in rural and semi-urban parts of India. Significant Subsidiaries Operations: 1. Canara Robeco Asset Management Co Ltd (51% stake) 2. Canara Bank Securities Ltd 3. Canara HSBC OBC Life Insurance Company Ltd (51% stake) 4. CanFin Homes Ltd (30% stake) For details, visit www.screener.in Capital Adequacy Ratio - 13.69% Net Interest Margin - 2.80% Gross NPA - 7.46% Net NPA - 2.64% CASA Ratio - 33.41% Book value - 386 Technically chart is forming a potential Cup with Handle pattern. Best to accumulate around 140-160 levels for the following targets: Medium term swing target @ 315 (110% ROI with 5.5 R:R) Long term positional target @ 480 (220% ROI with 11 R:R) Long term positional target @ 600 (300% ROI with 15 R:R) Stop loss optional @ 120 Do your own due diligence before taking any action. Peace!!
NSE:CANBKLong
by Swastik24
2
CANARA BANKCanara bank stock has given breakout with good intensity of volume in both daily and weekly time frame, as the banking stocks started to pick up pace, canara bank's price action along with indicators had confirmed positive trend ahead, on monthly basis it had made high then higher low, then higher high again higher low, and on weekly basis wave structure suggests same trend ahead as impulse, this indicates that this stock can be a good to go long at these levels or in dips (if any) with stoploss of 147, all the key levels are mentioned in chart with Stop-loss and targets. Wave Structure Key Levels are Mentioned on chart Breakout with good intensity of volume Zoom in Daily time frame Macd in monthly bullish Macd in Weekly Uptick and also above zero line Macd in daily positive crossover and Uptick and also above zero line Rsi in monthly uptick Rsi in Weekly Uptick at 60 Price near upper bollinger band in Weekly Dmi adx also positive Ungali setup in Weekly and daily All three emas are positive in daily Stochastic is positive and Uptick and also having good space to go in Weekly Stochastic in daily positive crossover and Uptick and also having good space to go Disclaimer. I am not sebi registered analyst. My studies are Educational purpose only. Consult with your Financial advisor before trading or investing.
NSE:CANBKLong
by RK_Chaarts
2
Canara bankAfter completing the 5 waves rise, canara bank has been in Corrective phase since february 2021, the entire Corrective phase looks like a part of complex correction, recently the daily Macd indicator has turned Bullish, and the stock has formed a positive weekly close, after taking support at the 50 weekly ema, the chart setup is suggesting that the Corrective phase in the stock is near completion and it is gearing up for the next leg of up move. The stock can gain momentum once it breaks and sustain above the resistance line which is currently at 160. Overall it is one type of paisa double pick investment pick One can go Long at current level or in dips (if any) Breakout with Good intensity of Volume Key Levels are Mentioned on chart Macd in daily positive crossover and Uptick Macd in hourly positive crossover and Uptick and also above zero Rsi in hourly above 60 dmi and adx are positive Disclaimer I am not sebi registered analyst My studies are Educational purpose only Consult with your Financial advisor before trading or investing
NSE:CANBKLong
by RK_Chaarts