Trade_1_2024 : Canara Bank

Long Canara Bank stock: 1st Buy Range (420 - 480)

Monthly Chart of Canara Bank

Why Buy Canara Bank?

Technical Reasons:

1) Strong momentum

2) Breakout is there on Monthly time frame from 430

Fundamental Reasons:

1) has a good dividend yield

2) available at low valuation/ low PE. Current PE is around 6

Macro Reasons:

1) Banks NPA are low and manageable

2) India's GDP to grow around the range of 5% to 7% per year for a decade. It itself is a very positive sign for the banking sector has a whole.

Comments

Trade 4: CSBBANK

Buy CSBBANK with a stop of 220 BUY = 255 STOP = 220 TARGET 1 = 300, TARGET 2 = 330+ Daily Chart of CSBBANK Why CSBBANK is a buy? This stock was trading in the range of 215 to 235 since mid-August, 2020. On November 6, this stock closed at 255. Thereby giving a breakout. This breakout is backed by a solid consolidation of about 3 months. This stock can be expected to touch a level of 300. At the level of 300, it may further consolidate before moving again upward. Our second target is 330+.

Trade 12: CARERATING

Buy CARERATING Buy = 530 Target = 700 stop loss = 480 1 Day chart of Carerating Why carerating is a buy? The stock is consolidating for the last 30 days. the price level of around 530 is a critical price zone. once, it breaks the level of 560, the next target maybe 700. overall, based on other parameters, this stock is a good buy with a pre-defined stop of 480.

Trade 18 : TVSMOTOR

SHORT : TVSMOTOR Stoploss = 753 Sell Price = 741 Keep trailing SL, when the trade goes in our favor. ( To see the exact trail SL, do check google sheets) 1-Day Chart of TVS MOTOR

Indian stock market - Swing Trading

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