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CA Omkar Bhutada - SEBI Reg IA

18th Sep · SEBI-Registered Analyst

🏦 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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