CANARA BANK Share Tips, Technical Analysis Chart, Intraday Stock Trading Graph Advice - Stock trading above 100 days moving average, will favor bulls, further strength expecting once CANARA BANK closes above 401.50. (Updated on 03rd September 2014, Wednesday).

CANARA BANK

• As per previous report published on CANARA BANK , stock  has shown sharp up move after breaking its resistance @ 310 and stock touched its expected level @ 328 on a very same trading day. (Click here to see previous report published on CANARA BANK).
• Now current technical chart indicates that Canara Bank is moving up from golden ratio support zone 61.8% fibonacci retracement as shown in chart no1. So as long as stock holds above it will be favored by bulls, once it closes below its golden ratio then sharp weakness is expecting.
• As per chart no2 stock analysis ... Canara Bank is moving in a down channel formation this indicates as long as stock is moving in down formation it will be favored by bears, but stock is now trying to break it on upper side, close watch if stock closes and stays above 401.50 then stock will be favored by bulls and further price rise is expecting.
• Suggested Reading - BHEL is also moving in down channel formation, will favor bulls once it breaks it formation on upper side.
• Intrday trading tips India - close watch once Canara Bank starts trading above 401.50 during trading hours, if holds above then intraday bullish move is expecting.
• As per graph no3, stock is holding above 100 days moving average, this shows that as long as holds above it will favor bulls, we can see some action in this stock once it closes above 401.50.
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• As per chart no4, if stock moved up from current levels then will find strong fibonacci retracement around 401.50 , 413 and 425. Intraday bulls action is expecting once it breaks its resistance mentioned above.
• Click here to see all the free trading reports (tips) published by us on CANARA BANK.
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