🚀 Canara Bank: Rounding Bottom Breakout in Progress! 🚀
📉 CMP: ₹111.8
🔒 Stop Loss: ₹104
🎯 Targets: ₹126 | ₹140
🔍 Why It Looks Promising?
✅ Rounding Bottom Formation
✅ Breakout Above Key Fibonacci 62% Level
✅ Sectoral Strength: Banking & Financials are poised to lead the next leg of the Nifty rally—and Canara Bank could be a key driver.
💡 Strategy & Risk Management
📈 Staggered Entry: Accumulate in phases near support for better risk control
🔒 Strict SL: Protect downside with a disciplined stop loss at ₹104
📍 Outlook: Strong technical breakout with sector tailwinds makes Canara Bank a compelling swing and positional trade setup.
📉 Disclaimer: Not SEBI-registered. Please conduct your own research or consult a financial advisor before investing.
#CanaraBank #BankNifty #BreakoutTrade #FibonacciLevels #SwingTrading #TechnicalAnalysis #StockMarketIndia #InvestSmart
📉 CMP: ₹111.8
🔒 Stop Loss: ₹104
🎯 Targets: ₹126 | ₹140
🔍 Why It Looks Promising?
✅ Rounding Bottom Formation
✅ Breakout Above Key Fibonacci 62% Level
✅ Sectoral Strength: Banking & Financials are poised to lead the next leg of the Nifty rally—and Canara Bank could be a key driver.
💡 Strategy & Risk Management
📈 Staggered Entry: Accumulate in phases near support for better risk control
🔒 Strict SL: Protect downside with a disciplined stop loss at ₹104
📍 Outlook: Strong technical breakout with sector tailwinds makes Canara Bank a compelling swing and positional trade setup.
📉 Disclaimer: Not SEBI-registered. Please conduct your own research or consult a financial advisor before investing.
#CanaraBank #BankNifty #BreakoutTrade #FibonacciLevels #SwingTrading #TechnicalAnalysis #StockMarketIndia #InvestSmart
Trade active
Today's high of ₹116.78 shows strong follow-through after the breakout above the rounding bottom and key Fibonacci level. Momentum building up as expected—on track toward first target of ₹126. 🔥#CanaraBank #BreakoutUpdate #TechnicalAnalysis #StockMarketIndia #SwingTrading
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.