Tuesday, 25 February 2014

: Buy Canara bank - Short Term Pick


     Analysis:

·         Stock entered in correction phase from Dec 2013 to till now and forming a base 210 level.
·         As per Bollinger band stock is tagging the mid band suggest bullish sentiment.
·         Stock may test the upper gap area as shown by horizontal red lines.
·         Indicator ADX, MACD, RSI & ROC analysis suggests buy signal.

Strategy: Buy Canara bank at CMP- 214 and add on dips to 208 for possible Target-  245 / 260 with stop below 204 on daily closing basis. (1-2 months)

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