City Union Bank Limited (CUB)

Dec 3

The daily chart of City Union Bank Limited (CUB) on the NSE shows the stock forming a rising wedge pattern, with the price approaching the upper resistance line near 185–190 INR. This suggests a critical juncture where a breakout above this resistance could lead to further bullish momentum, with potential targets at 195–200 INR. The RSI is nearing overbought levels at 67, indicating strong bullish momentum but also caution for a potential reversal or consolidation. The MACD is showing bullish signals, with the MACD line above the signal line and positive histogram bars, confirming upward strength. On the downside, immediate support lies at 175 INR, aligned with the lower trendline, and stronger support exists near 165 INR. Traders should watch for a breakout above 190 INR with increased volume for further upside potential, while a breakdown below 175 INR could indicate a corrective move. Given the rising wedge structure, caution is advised as these patterns can sometimes lead to reversals.