A TECHNICAL UPDATE ON CANARA BANK –23.2.2026

 

CANARA BANK

Open—149.20--High—154.50—Low—148.41—Close—154.15 on 20.2.2026.

Technically it is on a strong footing and looks good for the continuation of the up-move, but to keep the up-momentum going in the year-2026 it has to sustain above 158---155—154.91 on the closing basis and it is below it now and if it sustain below it then it may start to drift down further and may seek lower levels. But please note that moving down as long as it holds 138.05 on the closing basis then the chances of re-testing its all-time high of 168.84 will still be alive, else it may drift down further.

Similarly moving up ,it may get back into up-momentum track again once it closes above the range of  154.91—155—158 and sustain but it may have an accelerated up-move only once it moves above 168.84 and sustain on the closing basis and if it does that then the broad upside target could be 175---198---211—228---234—264.

In view of the above observation one can structure their trade or investment accordingly.

NOTE: - It is a technical assessment of the stock as of now, the technical interpretation changes with the price movement and time, therefore it has to be reviewed at regular intervals, furthermore  investors are advised to look into fundamental, financial details of the company because that too keeps on changing and last but not the least management perception for the future of the company before taking investment decision.

Disclaimer:-The view expressed here are solely of the author and he is not at all responsible in any way for the outcome of the trade you enter based on the above view. It is for the educational purpose.

 

Kindly note that make your cost your stop loss in favorable trade and then trail it as the price move up/down to gain maximum profit and avoid losses. Use support and resistance levels as entry, exit, target and trailing stop loss points. DO NOT TRADE WITHOUT STOP LOSS.

Note: Price stated here are of spot market.

                          Contact me for strategic guidance to enter and exit trade.

 Thanks 

Narendra Kumar Surana

suranank@gmail.com

Mobile—8240951127/9831313654.

 

 

A TECHNICAL VIEW ON CANARA BANK-13.9.2023

 

CANARA BANK

FINANCIAL DATA

SECTOR: -- PSU-- BANK. 

                            F.Y-2022-23          MAR-2023 Qtr          JUNE-2023 Qtr

Revenue:-           84424.78Cr           23909.80cr               25004.07cr                       

Net Profit:-        10603.76cr               3174.74cr               3534.84cr

E.P.S:-                       58.45                       17.50                      19.49   

N.P.M:-                     12.56                       13.28                       14.14

Equity: - 1814.13 cr,Face Value:-10,Book Value:-388.97, Price/Book:-.90,Dividend Yield:-3.44,Share Holding Pattern:- Promoters—62.93%  & Public---37.07%, Market Cap:-65308cr.TTM (E.P.S):-70.63(+87.60), TTM (PE):-4.94, Sector (PE):--11.18Data

 Source: - www.bseindia.com & www.moneycontol.com. 

All-Time High:--844.20 made on 9.11.2010.

All-Time Low: -- 45.10 made on 7.1.2003.

2020 crash low:-73.65 made on 24.3.2020.

Recent Bottom:-319.25 made on 31.8.2023.

Open--362-High—362.95-Low-347.20—Close-348.80 on 12.9.2023. 

Support:336.70/335.85/333.30/319.25/291.65/272.35/268.80. 

Resistance:384.90/401.70/416/452.10/463.70/478.60/498/519.10/533/545/566/667.50/671.70/759.90/793.70/844.20.

(Bold and underlined figures are most important) 

It is on a strong technical footing on the daily, weekly and monthly chart as of now, therefore likely to move up from here in coming days/weeks & months. Please note that moving up from here its upside target or stiff resistance points could be at 372---386---463.70---550---570---613---662---690, if it moves above 386 and sustain on the closing basis then it may gain good strength and sustained close above 463.70 may pick up steady up momentum and finally if it moves above 690 and sustain on the closing basis then it could retest it’s all time high of 844.20 or may go beyond it also. The long term trend is up now. 

Moving down its critical support points could be at 336.70---335.85---333.30 & 319.25 and it is very near to it now. Please note that if it has the strength it should not go below the range of 336.70---335.85---333.30 in fact it should not close below 336.70 even, but if it breaks this range then the next critical support point will be at 319.25 and break below it can drag it down to 291.25 & 268.80 or may be too much lower levels. 

In view of the above observation, for risk-averse investor it is suggested to accumulate the stock now and on decline but not below 336.70 with a stop loss of 330, but risk taking investor can accumulate the stock up to 319.25 with a stop loss of 308. It is important to mention here that possibility of continuation of the up move can only be on if it sustains above 336.70 on the closing basis, which please note. It is expected to fetch a return of 50% --60% or more in a time frame of 8—12 months. 

NOTE: - It is a technical assessment of the stock as of now, the technical interpretation changes with the price movement and time, therefore it has to be reviewed at regular intervals, furthermore  investors are advised to look into fundamental, financial details of the company because that too keeps on changing and last but not the least management perception for the future of the company before taking investment decision.

Disclaimer:-The view expressed here are solely of the author and he is not at all responsible in any way for the outcome of the trade you enter based on the above view. 

Kindly note that make your cost your stop loss in favorable  trade and then trail it as the price move up/down to gain maximum profit and avoid losses. Use support and resistance levels as entry, exit, target and trailing stop loss points. DO NOT TRADE WITHOUT STOP LOSS. 

Note: Price stated here are of spot market. 

Contact me for strategic guidance to enter and exit trade.

 

Thanks 

Narendra Kumar Surana

suranank@gmail.com

Mobile—8240951127/9831313654.

 

Trading Calls For-14-11-14

Trading Calls For-8-7-14

Trading Calls For-3-7-14

Trading Calls For-24-6-14

Trading Calls For -23-6-14

Trading Calls For-18-6-14

Trading Calls For-16-6-14

Trading Calls For 9-6-2014

Trading Calls ( 3 Buy | 3 Sell ) for 05-June-14

Trading Call For 2-6-2014

Trading Ideas (for 7-5-14)

1.AXIS BANK  CMP Rs.1536.95  On 6-5-14


Sell  below 1528.50 with a stop loss of Rs.1535  for a target of Rs.1500.


REMARKS:- Sell call for the day 7-5-14 only.



2.CANARA BANK CMP Rs. 287.50 On 6-5-14.


Sell  below  Rs.286 with a stop loss of Rs.288  for a target of Rs.277


REMARKS:- Sell call for the day 7-5-14 only.

       NOTE:-1.PRICE STATED HERE IS OF SPOT MARKET.

                   2.RECOMMENDATIONS ARE VALID TILL THE STOP LOSS IS TRIGGERED.

                   3.IN FAVORABLE TRADE TRAIL YOUR STOP-LOSSES FOR MAXIMUM GAIN AND CAPITAL  PROTECTION. 

 Contact me for strategic guidance to enter and exit the trade