CANARA BANK | TECHNO-FUNDA ANALYSIS

Canara Bank – 1 MONTH (Long-Term Summary)

Trend: Canara Bank has confirmed a decade-long breakout above its 2011–2012 highs, marking the start of a strong long-term bullish trend. Price shows clear higher highs, heavy volume, and strong institutional participation. Key Levels: Support: ₹124 | Next: ₹118 / ₹93 Resistance: ₹141 | Major: ₹148–₹164 Above ₹148: Opens long-term targets up to ₹200–₹250+ Expected Move: Sustaining above ₹133–₹135 on monthly close could lead to ₹160–₹200 in 6–12 months, and ₹250+ in 2–3 years. Fundamentals: -Strong profit growth & higher NII -Sharp fall in NPAs → improved asset quality -Attractive valuation vs private peers -Growing digital presence & efficiency gains -PSU Bank sector in a “Golden Phase” with credit growth and re-rating Why It’s Rising: -Breakout from decade-old resistance -Sector re-rating of PSU banks -Institutional buying (FIIs + DIIs) -Earnings momentum with robust margins -Macro tailwinds – stable rates & government support Final Verdict: Strong Buy (Long-Term View) ✅ Canara Bank’s breakout confirms a new structural bull cycle. Holding above ₹133–₹135 can lead to ₹164 → ₹200 → ₹250+ in the coming years.