Short term trend of Canara Bank is looking weak-25 August 2014

After making a bottom at 358 on 13th August, Canara Bank rallied and it made a high of 401 today. The present rally looks like a terminating triangle. This pattern implies a sharp correction towards the starting point of the rally. So, this scrip is likely to decline towards 355 levels, if it fails to sustain above 401. And the target could be achieved in another 5 to 7 trading sessions.

Intraday Trading Calls - 25 August 2014

Date 25/8/14, Time 09.28 - Sell Nity Fut below 7950 Stop 7970. Target 7880.
                       Time 01.23 - Sell Nity Fut below 7970 Stop 7990. Target 7880.