🏦 Canara Bank – Breakout from Bullish Flag!
CANBK
📊 Technical View
Strong Uptrend: Stock rallied from ₹75 → ₹120 before consolidation.
Pattern: Bullish Flag & Pole visible on weekly chart.
Breakout Zone: Above ₹118–₹120 on closing basis.
Volume: Rising volumes indicate accumulation.
Momentum: MACD turning positive, RSI sustaining above 55 = bullish bias.
🏦 Fundamental View
Consistent profit growth with improving asset quality.
Strong NII growth supported by rising credit demand.
High ROE & ROA compared to PSU peers.
🎯 Trade Levels
Buy above: ₹120
Targets: ₹135 / ₹150
Stop Loss: ₹105
⚡ View: With both technical breakout + PSU banking sector strength, Canara Bank looks set for a fresh rally.
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