UNIONBANK – Positional Breakout Setup

Pattern: Double Bottom | W Pattern Inside Channel
Trend: HH-HL Structure | Trading Inside Ascending Channel
Volume: Noticeable Build-Up
DMAs: Trading Above Key DMAs
Stage: Aiming for Stage 2 Breakout

The stock is forming a double bottom (W pattern) inside a well-respected ascending channel, with a clean higher high–higher low structure and visible volume build-up. It's now trading above key DMAs, hinting at underlying strength. With price approaching a key breakout zone, it looks primed for a potential Stage 2 continuation.

🔔 Trade Plan
Entry: ₹143.38+ (on breakout and daily close above)

Stop Loss: ₹121.74 (closing basis )

Target 1: ₹151.72

Target 2: ₹172.83

Risk–Reward Insight 🎯
Risk from entry to SL is ₹21.64.
Reward to Target 1 is ₹8.34 (~1:0.38)
Reward to Target 2 is ₹29.45 (~1:1.36)

While T1 gives a conservative move, the bigger play lies in T2 — the upper edge of a 1-year trading range. This is where smart money tends to scale in.


💡You don’t have to go full throttle on day one.
✅ Consider buying a test quantity above ₹143.38 to assess breakout strength.
If the move confirms with strong follow-through and volume, you can look to add on dips or above T1 with a tighter trailing SL.

This approach helps you ride trends without overexposing yourself early. The key is to stay mechanical and let the setup prove itself.

⚠️ Risk Management is Non-Negotiable
Never ignore your stop loss.
Don't chase.
Stick to your plan and size positions according to your risk appetite.

This setup looks technically clean — but remember: even the best setups fail without confirmation. Let price and volume lead the way.

📌 Disclaimer:
This is not investment advice. I am not a SEBI-registered advisor. All content is for educational purposes only. Please do your own analysis and always trade responsibly.