CANBK - IntraDay Trade Analysis with Live Signals

Last Updated Time : 20 Dec 25, 07:02 am

IntraDay Trade Rating: 4.3

📊 Analysis: Canara Bank (CANBK) shows strong intraday potential today. Current price (₹149) is above both 50DMA (₹140) and 200DMA (₹121), confirming bullish bias. RSI at 59.2 indicates healthy momentum, while MACD (2.07) is positive, supporting upward movement. Volume (1,66,06,364) is slightly below weekly average (1,91,81,440), but still provides strong liquidity. Fundamentals are attractive with ROE (18.2%) and EPS (₹20.5), while valuation (P/E 7.34 vs industry PE 7.89) remains fair. High debt-to-equity (15.0) is a limitation but typical for the banking sector.

💹 Optimal Buy Price: Around ₹147–149 (near support zone).

🎯 Profit-Taking Levels: ₹152–154 (short-term resistance, close to 52-week high).

🛡️ Stop-Loss: ₹144 (below 50DMA support).

⏱️ If Already Holding: Consider exiting if price fails to sustain above ₹150 with RSI dropping below 57 or MACD flattening. Exit near ₹152–154 if momentum holds; cut positions if price slips below ₹144 with rising volume.

Positive

• 📈 Strong ROE (18.2%) and EPS (₹20.5).
• 💹 Quarterly PAT growth (₹4,774 Cr. vs ₹4,752 Cr.).
• 📊 FII holding increased (+0.51%) and DII holding increased (+0.82%).
• 📈 Stock trading at 92.5% of 52-week high range, showing strong sentiment.

Limitation

• ⚠️ High debt-to-equity ratio (15.0), typical for banks but a risk factor.
• 📉 ROCE at 6.79%, modest compared to peers.
• 📉 Volume slightly below weekly average, limiting intraday participation.

Company Negative News

• 📉 High leverage with debt-to-equity at 15.0.

Company Positive News

• 📈 Quarterly profit variation improved (+18.9%).
• 💹 Institutional confidence with both FII and DII additions.

Industry

• 🏭 Industry PE at 7.89, slightly higher than Canara Bank’s valuation (7.34).
• 📊 Banking sector supported by credit growth and rising profitability, though sensitive to NPA cycles.

Conclusion

⚖️ Canara Bank is a strong intraday candidate today with favorable technicals and fundamentals. Buy near ₹147–149, target ₹152–154, and protect downside at ₹144. If already holding, monitor RSI and MACD closely for exit signals. Strong profit growth and institutional support favor bullish bias, though high leverage remains a key limitation.

Would you like me to extend this into a peer benchmarking overlay against other PSU banks (like SBI, Bank of Baroda, PNB) to compare intraday strength?