BSE: CANBK: Correction is due and expected to complete at 276

Talking Points:

Technical Strategy: Hold and Buy lower
Elliottwave Count: Correction

HTG Note:

Current price action on Canara Bank (BSE: CANBK ) is trading bullish move. However, script was in correction after break on monthly trend line . All PSU bank showing correction in bullish move. We are expecting correction will be on flat correction and should be completed on 276-275 zone.

We are on sideline after booked our loss with 1 rupee on 290 level. Team is looking for lower level, possibly 276 to re-initiate our longs with limited risk.

-- By @hoagtrading (Hoagtrading.com)

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