Canara Bank_Inverse Head and Shoulder with Weekly Break OutCanara Bank Seems to have formed an Inverse Head and Soulder Pattern with weekly break out on chart. View Negated on weekly closing below 109. Buy Zone above 121
CANBK trade ideas
CanBKStock is gapped down & hammer formed nicely . Also it is at support with IB in formation . We'll long this if break upwards as per given in chart
CANBK - Long above 120Volumes are good - market is +ve.
If breaks 120 - go for long and we can see considerable upmove if sustains above 120.
Volumes are good from couple of days - Watch market trend and trade accordinggly.
Above 120 -- next 135/ 150/160
buy canara bank above 119.45 sl is 11 points tgt 162 above (delivery trade) daily and weekly both charts shows good breakout above 119.45 sl is 11 points ( 10% of stock value) tgt 162 more .
CANARA BANK looks good for accumulation.NSE:CANBK
Can bank on weekly chart looks good for those who are looking for short to long term investment.
If you see over all chart structure stocks seems to be bottom out. And now trading in range of 75-120 which likely to be a accumulation zone of smart players.
Retailers at this point may not be interested in this counter bcoz of panic of past and they exiting on each rise in zone of 75-120 while smart money likely to be buying the same.
Safe player can wait for stock to take out level of 120 before getting in here but those who like to take more risk can start buying in this counter on each deep.
level of 75 will be a major support for CANARA BANK while 120 will be Resistance.
Happy Trading, Happy Investing.
||AMBADNYA||
CanBK I trades Trade SetupIf I have to buy this, I will buy at 97.75, will keep a stop loss of 1 rupee that is 96.75 or so
And target will be 100
Quick Summary of Analysis -
Risk to reward 3:1
With trend
RSI 50 with a small upward move which is not so strong but have potential to reach 70 and hence can reach our target price of 70
Reason for keeping SL so near is that in MACD, the red line is strong as compared to blue line and both are downward sloping.
But as I said, we can enter in this trade only if entry price is at 97.75 approx.
CANARA BANKI'm not an expert I'm just sharing my views on CANARABANK for next trading day
I'm not responsible for any profit or loss this is not a recommendation.
Canara bank is it completion of head and shoulder..!!Looks to be completion of the head and shoulder formation. And 80s looks to be strong support to accumulation !!
CANARA BANK 45MNBULLISH Deep Crab
price need to follow Green Trend line & hit target
If price Breaks Red Trend line is where EXIT before SL hits
POTENTIAL BUY
CANARA BANK 1HRBULLISH Deep Crab
price need to follow Green Trend line & hit target
If price Breaks Red Trend line is where EXIT before SL hits
POTENTIAL BUY
