Investors have paid higher prices over time to buy Canara Bank and the stock is in a rising trend channel in the medium long term. Rising trends indicate that the company experiences positive development and that buy interest among investors is increasing. A head and shoulders formation is under development.
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A decisive break of the support at 263,
ideally with an increase in volume, signals >
a further fall. The stock has support at
rupee 272 and resistance at rupee 336.
Negative volume balance indicates that
sellers are aggressive while buyers are
passive, and weakens the stock. The RSI
curve shows a falling trend, which is an
early signal of a possible trend reversal
downwards for the price as well. The stock
is overall assessed as technically positive
for the medium long term.
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