CANBK trade ideas
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!!
MY VIEW ON CANBKCANBK forming inverse head & shoulder pattern.
TGT looking 186-187-188 in very short term.
Keeping on radar CANBK 185 CE.
canara bankcanara bank broke the channel with a big red candle. crucial level is 196. if it gets broken we are looking for target of 186 176 164.
CANARABANK : A DIP IN THE POOL, YET COMES OUT COOL ! : ELLIOTT CANARABANK : Is coming for a dip, completion of wave 4. Then will be ready to launch for wave 5.
-Elliott wave analysis-
-I'm not SEBI - Registered. So, this is only for educational purpose.
Invest wisely.
CANBKNSE:CANBK
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Canara Bank Long term or positionalafter 12 years, Monthly RSI crossed 60.
12 year Trendline breakout
Daily and weekly RSI crossed 60
Canara Bank Buying LevelCan buy and 0.78% retracement level and sell @ 0.68% retracement level
Buy above the level 0.78%
And Sell below 0.68% level
Canara bank pattern breakoutit looks like a triangle pattern breakout and rsi has already given an early confirmation , in my watchlist , a bullish continuation candle with good volume will be a good entry .
Canara Bank - Education ChartCanara Bank needs to close abv 157 for good upside for 185-203. Strong Balance Sheet and Cleaning Books in coming quarter can change prospectus for long term investor
Buy CanBank The stock has given a trendline breakout after a few days of consolidation.
Today, it has formed a big bullish candle with the formation of a higher-high and higher-low price structure on the daily chart with improved momentum in RSI and MACD.
CANARA BANK Looks going for corrective wave. It need to bounce at
Blue support line. Otherwise very bad 👎 for few months. 😎
CANARA BANK BUY short termTP will be updated soon
wait for 1D close
breakout trade and also its in a strong trend
Canara Bank 1 MTflook like breakout previous resistance at 2020. May move up to 290 if bank-nifty supports
Canara Bank Long Term View Positive Canara Bank Long Term View Positive Can give long target as shown in chart
CANARA BANKit breaks the downc hannel pattern on the upper side, but on friday it forms the spinning top candle
so wait for the price to cross the 215 level, and then go for long side
Canara Bank For Intraday 20 of December 2021I have drawn some trade lines to identify the entry for both sides buy and short sell in the stock
Red trade line is the support and green trade line is the resistance
CANARA BANK stock for Intraday for 8th of DecemberMy strategy is very simple short below major support and buy above major resistance
Negative divergence exit longs Canara bank making negative divergence on Daily time frame exit longs.
Canara Bank : OverviewDaily RSI above 50
Support of EMA 20, 50 and 200
Formation of Rounding Bottom Pattern
Will reach for retest level of 170 after reaching 230.
