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Published on 6/11/2019 9:42:10 AM | Source: Religare Securities Ltd

Sell Canara Bank Ltd For The Target Rs.775 - Religare Securities

Posted in Broking Firm Views - Short Term Report| #Banking Sector #Canara Bank Ltd #Trading Report #Religare Securities Ltd

Canara Bank (CANBK)

In line with other PSU banking counters, CANBK has also witnessed decent recovery of late and reached closer to its immediate hurdle of 100 EMA on the daily chart. Considering its chart pattern and overall downtrend, we see this rebound as shorting opportunity and expect decline to resume. We thus suggest traders to initiate fresh shorts within the mentioned zone.

 

Recommendation

Sell Canara Bank Ltd Futs@ 209-211 SL 216 Target 775 CMP 207.15

 

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