Canara Bank: Rounding Bottom Breakout in Progress!

29 May

🚀 Canara Bank: Rounding Bottom Breakout in Progress! 🚀

📉 CMP: ₹111.8
🔒 Stop Loss: ₹104
🎯 Targets: ₹126 | ₹140

🔍 Why It Looks Promising?
✅ Rounding Bottom Formation
✅ Breakout Above Key Fibonacci 62% Level
✅ Sectoral Strength: Banking & Financials are poised to lead the next leg of the Nifty rally—and Canara Bank could be a key driver.

💡 Strategy & Risk Management
📈 Staggered Entry: Accumulate in phases near support for better risk control
🔒 Strict SL: Protect downside with a disciplined stop loss at ₹104

📍 Outlook: Strong technical breakout with sector tailwinds makes Canara Bank a compelling swing and positional trade setup.

📉 Disclaimer: Not SEBI-registered. Please conduct your own research or consult a financial advisor before investing.

#CanaraBank #BankNifty #BreakoutTrade #FibonacciLevels #SwingTrading #TechnicalAnalysis #StockMarketIndia #InvestSmart

2 Haz

İşlem aktif

Today's high of ₹116.78 shows strong follow-through after the breakout above the rounding bottom and key Fibonacci level. Momentum building up as expected—on track toward first target of ₹126. 🔥

#CanaraBank #BreakoutUpdate #TechnicalAnalysis #StockMarketIndia #SwingTrading