Bravetotrade

Union Bank: Head And Shoulders-How Realistic Can The Targets Be?

NSE:UNIONBANK   UNION BK OF INDIA
Do you think the target of 75 would be realistic if it breaks below 140?
Please leave a comment to discuss about this head and shoulders pattern.

Hit like is this information is useful.

Trade Safe.

Regards
Bravetotrade
Comment: Is it really a H&S?
What Could be your possible targets below 140?
How will you initiate the short below 140?
Plz. discuss.
Comment: As H&S pattern is active now. Will it touch 75, what do you say?
Comment:

Comments

Since @BANKNIFTY is also in downtrend now, I think it should start to play out well going forward.
Reply
Bravetotrade arkims343
@arkims343, u r right.
Reply
140 level is roughly 78.6% retracement level i.e. Strong support. What is the possibility of it bouncing back?
Reply
@sausawan, The stock is weak compared to markets , so there are chances that it may break 140 if markets show further weakness.

Bounce back is possible but i m doubtful if it would sustain or not.
Reply
sausawan Bravetotrade
@Bravetotrade, Thanks for your insight !!
Reply
@sausawan, welcome.
Reply
@sausawan, one more possibility could be that it ends in an ABCD type correction. In that case below 140 , the 100 level is possible.
Reply
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