CANBK trade ideas
Single Chart - Multiple DestinationsCanbk has recently broken the Uptrend line and has reached a nearby crucial support. Now it can take different paths going ahead. each arrow identifies one move. For the next arrow to start, a breakout needs to happen with an Impulse. I will keep it on watch list going ahead as there will be multiple trading opportunities. Will keep you posted on the updates as price clarifies the probable paths.
CANARA BANK - POTENTIAL SHORTING CANDIDATECANARA BANK
CMP 235
Target 180
Stop 270
Weekly Chart
Stock has convincingly broken down an important support zone at 249, which could potentially act as a resistance zone going forward.
Stock could possibly retest the new resistance zone, which ideally is a shorting opportunity.
Hence, shorting suggested at levels 245-249 with a stop of 270 for a target of 180.