The myth of similar patterns. Both BOI & Canara Bank have formed inverse H & S pattern.
Technical indicators ADX > 25 and trending upwards indicating the strength in the on going trend.
1. Accumulate Canara Bank around 410 - 420 with stop loss of 390 for targets of 454 - 500
2. Accumulate BOI around 290 - 295 with stop loss of 284 for targets of 320 - 340
BOI DAILY CHART
CANARA BANK DAILY CHART
Raju V Angadi
Equity Research Analyst
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Disclaimer: This is just an view based on the research of individual for educational purpose. So kindly trade along with the consultation of your financial adviser, market trends, price action and own risk appetite considered while investing or trading in markets
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