The Canara Bank share is currently trading between ₹111 and ₹113.1 as of 16 September 2025. While the price action shows signs of consolidation, technical indicators suggest a potential breakout may be on the horizon. In this post, we’ll explore whether it’s the right time to invest in Canara Bank share, based on chart patterns, support levels, and macroeconomic signals.
Key Support & Resistance Levels
- Immediate Support: ₹105
- Next Support: ₹100
- Short-Term Target: ₹120
- Breakout Level to Watch: ₹135
These levels are critical for anyone tracking Canara Bank share performance. A dip below ₹105 could trigger further downside, while a breakout above ₹135 may signal bullish momentum.
Technical Pattern: Flag Formation’
The current chart structure of Canara Bank share resembles a classic flag pattern — a short-term consolidation following a strong upward move. This setup often precedes a continuation rally, especially when supported by favorable macroeconomic conditions.
- In a flag scenario, prices may temporarily decline before resuming their upward trend.
- A breakout from the flag could push Canara Bank share toward the ₹120 target, and possibly beyond
Macro View & Market Sentiment
Global economic indicators suggest a mixed outlook, but PSU banking stocks like Canara Bank share may benefit from policy tailwinds and rising investor confidence. However, the current price zone lacks strong momentum, making it a cautious entry point.
Strategic Takeaway
Already invested? Hold your position. The technical setup supports a potential rise toward ₹120.
- Looking to enter? Wait for a confirmed breakout above ₹135. This would validate strength and reduce downside risk in Canara Bank share.