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Buy Canara Bank Ltd For Target Rs.320- Religare Broking
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* We are seeing noticeable buying in the PSU banking pack and Canbk is trading in sync with the trend.
* It has recovered strongly in the last one month, after retesting the support zone of the major moving average i.e. 200 EMA.
* Formed a fresh buying pivot while holding strongly above the 290 levels. The chart pattern indicates a steady up move.
* We thus recommend creating fresh longs in the mentioned range.
Buy CANBK CMP 302.95; Range 302-304; SL 295; Target 320
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