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Published on 11/01/2019 9:47:03 AM | Source: Religare Securities Ltd

Buy Canara Bank Ltd Put Option For Target Rs.14 - Religare Sec

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

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Canara Bank (CANBK)

In line with other PSU banking counters, CANBK has also witnessed decent rebound in last three months. It has now reached closer to resistance barrier of 200 EMA on the weekly chart and likely to see profit taking in near future. We advise initiating fresh shorts through Put option as per the mentioned zone.

Recommendation

Buy Canara Bank Ltd 280 PE @ 7-8 Stoploss 5 Target 14 CMP 9.15

 

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