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Canara Bank

Discussion in 'Technical Analysis' started by sanjay_sansanwal, Aug 25, 2012.

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  1. sanjay_sansanwal

    sanjay_sansanwal Contributor

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    canara bank is looking very weak and it is good shorting opportunity @ cmp 332.7 with stop loss of 342.
    It has breakdown its major support of 340.
    share ur views
     
    sanjay_sansanwal, Aug 25, 2012
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  2. sujan4bw

    sujan4bw Member

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    Hi Sanjay,

    There was a symm triangle pattern in Mid June - Mid July.

    Now again there is Double top pattern. May be you can short after small price reaction.

    Regards
    Sujan
     

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    Last edited: Aug 25, 2012
    sujan4bw, Aug 25, 2012
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  3. sanjay_sansanwal

    sanjay_sansanwal Contributor

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    Hi shabbir
    need ur views too on the thread.
     
    sanjay_sansanwal, Aug 26, 2012
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  4. shabbir

    shabbir Administrator Staff Member

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    Cracking 340 is sign of total weakness in the stock.
     
    shabbir, Aug 26, 2012
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  5. sanjay_sansanwal

    sanjay_sansanwal Contributor

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    Shorted canara bank 27 sep @ 334
     
    sanjay_sansanwal, Aug 27, 2012
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  6. sanjay_sansanwal

    sanjay_sansanwal Contributor

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    Covered @ 310.75.
    Too good.
     
    sanjay_sansanwal, Aug 30, 2012
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  7. shabbir

    shabbir Administrator Staff Member

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    Great and who said you cannot make money when market is going down.
     
    shabbir, Aug 30, 2012
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  8. sanjay_sansanwal

    sanjay_sansanwal Contributor

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    I think market give us more return when going down compare to going up.
     
    sanjay_sansanwal, Aug 30, 2012
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  9. sujan4bw

    sujan4bw Member

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    Its always easy for market (traders) to fall than going up.
     
    sujan4bw, Aug 30, 2012
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  10. shabbir

    shabbir Administrator Staff Member

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    Always. Falls are always sharper than ups because there are more people who are into market without knowing much and so when it starts falling people start feeling the nerves.
     
    shabbir, Aug 30, 2012
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  11. sanjay_sansanwal

    sanjay_sansanwal Contributor

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    Correct, when going down there is so many issues like panic selling, new shorts and booking loss because of support break.
    Other way, when going up there is limitation because new traders find hard to buy, risky traders make shorts @ that level only few are buying.
     
    sanjay_sansanwal, Aug 30, 2012
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