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Technical Report on Canara Bank by Shyam Advisory

October 4, 2021

Canara Bank was founded in 1906 in Mangalore. Its segments include Treasury Operations, Retail Banking Operations, Wholesale Banking Operations and Other Banking Operations. It has completed over a century in the industry and occupies a premier position in the comity of Indian banks.

CANARA - Shyam Advisory

Technical View: Canara Bank chart had an exit of Ascending triangle which indicates positive trend, leading indicator such as RSI is in overbought zone MACD crossover clearly indicating positive signals, Strong Bullish candle formation in daily and weekly chart confirming the trend.
Volume analysis:-Recent decrease in monthly Delivery volume by -10.22% and last 5 days average volume increase by 20.38%, Which indicating positive trend and we recommend “BUY’ signal in the range of 171 to 174 upside target 191 keeping stop loss at 165