CANARA BANK

18 Sep 2021

Canara bank stock has given breakout with good intensity of volume in both daily and weekly time frame, as the banking stocks started to pick up pace, canara bank's price action along with indicators had confirmed positive trend ahead,
on monthly basis it had made high then higher low, then higher high again higher low, and on weekly basis wave structure suggests same trend ahead as impulse, this indicates that this stock can be a good to go long at these levels or in dips (if any) with stoploss of 147, all the key levels are mentioned in chart with Stop-loss and targets.

Wave Structure

Key Levels are Mentioned on chart

Breakout with good intensity of volume

Zoom in Daily time frame

Macd in monthly bullish

Macd in Weekly Uptick and also above zero line

Macd in daily positive crossover and Uptick and also above zero line

Rsi in monthly uptick

Rsi in Weekly Uptick at 60

Price near upper bollinger band in Weekly

Dmi adx also positive Ungali setup in Weekly and daily


All three emas are positive in daily

Stochastic is positive and Uptick and also having good space to go in Weekly

Stochastic in daily positive crossover and Uptick and also having good space to go


Disclaimer.
I am not sebi registered analyst.
My studies are Educational purpose only.
Consult with your Financial advisor before trading or investing.