CANARA BANK - Rs.414

The above chart is of Canara bank weekly chart. You can clearly see that CB has moved above 200 week EMA in may then came down and exactly taken support at it and started to move up. This is a perfect technical support and we can expect the stock to make a new 52 week high which is nearly 20% from current levels. Now the margin of safety is also high at below 200 week EMA. Stop Loss should be at daily close below 365/-

M.Mahiidar
Enjoying Life
Trend is Friend.