CANARA BANK BULLISH PENNANTHello
Welcome to this analysis about CANARA BANK , we are looking at daily timeframe perspectives. CANARA BANK is developing here that will be a decisive factor in the upcoming times. I discovered the main formation CANARA BANK is developing here that will be a decisive factor in the upcoming times. As when looking at my chart now we can watch there how CANARA BANK has emerged with this key BULLISH PENNANT pattern marked in my chart with boundaries. which is an important level and also psychological level mark together with the lower-boundary of the BULLISH PENNANT a pullback
In this manner, thank you for watching my update-analysis about CANARA BANK and its major BULLISH PENNANT with the determining factors we need to consider in upcoming times, support the analysis with a like and follow or comment for more market insight!
CANBK trade ideas
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
Cup & handle on Canara Bank - NSE Cup & handle breakout after 165.
For position trade only.
Enter at 165.
1st target 181
2nd target 198
3rd target 214.
If you are a risk taker. And have patience. You can enter at CMP 152. With swing low as stop-loss.
Consult your financial advisor before investing.
It’s just for educational purpose.
CANBK LONG INTRADAY 9 JUN,2021Dear trader,
If u look at the chart of CANBK (analysis based intraday only) the CANBK Buy at 161 and Target at 163
Best Buy at 160.
Our Best Buy is based on high quality research and when the instrument reaches this level , it’s a jackpot trade.
Best Buy level might be executed or might not be executed.
The chart clearly indicates Bullish Trend you can also see the candle stick patters for more indepth analysis.
In Intraday most important thing is to enter and exit points.
Our signals are based on analytics, algorithms, mathematical derivatives.
Always be a responsible trader, kindly trade only when you have maximum opportunity in the market with minimum risk and with keynotes like data, analysis and proper strategies.
Kindly message us for strategies and analysis.
#CanaraBank waitingwe had bearish weekly close & have been rejected at the resistance
expecting a retrace to support if hold might complete the ascending triangle
if not it is possible that we might form a Double top here as well
keeping an eye on this idea will share setup if & when we reach support
Canara Bank (Canbk) Swing/Positional Trendline breakoutHi look at the chart, got good volume and gave breakout.
The stock tried to break the 120 levels many times, but finally it broke the resistance and made it support.
Now see the stock, it gave trendline breakout with good volume and if tomorrow it sustains above 163 then we can expect a very good move.
Always maintain your risk reward.
you can place your stop loss below the support zone 148 for safe players.
Thank you.
CANARA BANK :: BULLISHDATE: 23/5/2021
INSTRUMENT: CANARA BANK
TREND: BUY
TIME FRAME: 3 HRS
CMP: 153.05
BUY ABOVE: 153.50
STOP LOSS:
TGT 01: 157.55
TGT 02: 168.55
DISCLAIMER:
We are not S E B I registered analysts. Please consult your personal financial advisor before investing. We are not responsible for your profits/losses whatsoever.