Recent Price Movement and Sector Context
Canara Bank’s recent price decline is notable against the backdrop of a broader public banking sector downturn, which has fallen by 5.27% on the same day. Despite this, the stock marginally outperformed its sector peers by 0.85%, indicating relative resilience amid sector-wide selling pressure. The stock’s intraday low touched ₹138.05, representing a 6.34% drop from previous levels, with heavier trading volume concentrated near this lower price point. This suggests that sellers dominated the session, pushing prices down despite the stock’s underlying strength.
The bank’s moving averages reveal a nuanced technical picture. While the current price remains above the 100-day and 200-day moving averages—often considered key support l...
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