1. DIYTechnicalAnalysis is a private community of traders and investors interested in building wealth from Indian equity market. You can become a member with a one time registration fee of ₹199. Click here to become a member

Canara bank

Discussion in 'Technical Analysis' started by vishuhd1, Apr 15, 2013.

  1. vishuhd1

    vishuhd1 Member

    Joined:
    Sep 1, 2012
    Messages:
    214
    Likes Received:
    15
    Occupation:
    Software Engineer in IBM, Bangalore
    Canara bank has made a perfect W and it has given a very good buy signals above 408.. It can be bought for an immediate target of 440 with a SL of 370.. Please share your views..
     
    vishuhd1, Apr 15, 2013
    Share #1
  2. srspriya06

    srspriya06 Active Member

    Joined:
    Dec 13, 2012
    Messages:
    243
    Likes Received:
    47
    I agree ..This is Perfect Level
     
    srspriya06, Apr 15, 2013
    Share #2
  3. vishuhd1

    vishuhd1 Member

    Joined:
    Sep 1, 2012
    Messages:
    214
    Likes Received:
    15
    Occupation:
    Software Engineer in IBM, Bangalore
    Thanks Priya..
     
    vishuhd1, Apr 15, 2013
    Share #3
  4. naveen1241

    naveen1241 Responder

    Joined:
    Jul 11, 2012
    Messages:
    292
    Likes Received:
    52
    Again
    Reward - 32 Rs. Profit
    Risk - 38 Rs. Loss

    Is risk reward ratio not a factor ?
     
    naveen1241, Apr 15, 2013
    Share #4
  5. vishuhd1

    vishuhd1 Member

    Joined:
    Sep 1, 2012
    Messages:
    214
    Likes Received:
    15
    Occupation:
    Software Engineer in IBM, Bangalore
    Yes.. But 440 is just an immediate target and not the final one.. A perfect W breakout can fetch you handsome gains if you play well in the market..
     
    vishuhd1, Apr 15, 2013
    Share #5
  6. naveen1241

    naveen1241 Responder

    Joined:
    Jul 11, 2012
    Messages:
    292
    Likes Received:
    52
    What i feel is it could prove resistance levels from 415-438 as it had multiple supports previously which was broken decisively to around 370 levels. This could well be a short lived move unless the sector as a whole picks up.
     
    naveen1241, Apr 15, 2013
    Share #6
  7. vishuhd1

    vishuhd1 Member

    Joined:
    Sep 1, 2012
    Messages:
    214
    Likes Received:
    15
    Occupation:
    Software Engineer in IBM, Bangalore
    May be.. But if you can sail along the market trend, you can as well make some quick profits before things can actually start deteriorating..
     
    vishuhd1, Apr 15, 2013
    Share #7