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Published on 3/06/2020 2:57:37 PM | Source: HDFC Securities Ltd

Technical Pick - Buy Canara Bank Ltd For Target Rs. 117 - HDFC Securities

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

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Technical Evidences

* Stock price has surpassed the crucial resistance of its 50 days EMA

* Short term moving averages have shown crossover above medium term moving averages

* Stock has reached above the upper band of the Bollinger and sustaining above it

* Volume have also been rising along with the price rise

* Stock formed double bottom at 76 and reversed north in May 2020

* Indicators and oscillators like MACD, RSI and DMI are showing strength on the charts

* Stock has broken out from the congestion zone

Buy Canara Bank Ltd @96-97 CMP 96.5 Target 107,117  SL 86

 

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