I will wait for retracement on NSE:CANBK to take buy entry. Best level to take entry will be 293 with stop loss of 273 (-20 Points).
Will hold till targets of 314, 329, 345 & 375.
Note: This is my personal analysis, only for learning. Thanks.
The 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...
News: Canara Bank cut MCLR while BoD to consider fund raising on 10 July
#CanaraBank #CANBK is moving between 20EMA as support and 100EMA as resistance. After touching 100EMA on 24th June 2020 stock shown bearish move but after yesterday news stock received High volume. Till 10 July BoD meeting, stock will show +ve sentiments.
Aggresive New long buildup can see....
Here you can see guys canara bank facing resistance and after it takes support over the same resistance But now i straining CANARABANK for longposition.
Talking Points:
Technical Strategy: Hold and Buy lower
Elliottwave Count: Correction
HTG Note:
Current price action on Canara Bank (BSE: CANBK) is trading bullish move. However, script was in correction after break on monthly trend line. All PSU bank showing correction in bullish move. We are expecting correction will be on flat correction and should...
