CITY UNION BANK OF INDIA Stock is consolidating from a long time now lows is shifting upside with a good divergence
we can see target of 233 and 267 in upcoming days
Cityunionlog
#CitiUnionBank Positional Set UpNSE:CUB
📌 As we can see City Union Bank stock has reached at March 2020 Levels (corona fall) and it is trying to reverse from that support and as well from harmonic PRZ too.
📌 To Trade on This Chart, You Should Have Reversal Trading Knowledge. As Harmonic is One Of The Best Reversal Trading Strategy, But Always Remember That Harmonic Patterns Also Can Fail (there is no holly grail In Stock Market). That's Why One Should Must Have Knowledge Of Reversal Trading To Trade On Harmonic Patterns.
📌 That Dash Line Is Called PRZ, From That Dash Line To that Horizontal Simple Line Area Is Whole PRZ(Price Reversal Zone).
📌 As One can see, This Pattern has Been Made on Bigger Time Frame, that's why stop loss quite big as per this pattern and time frame. So wait for perfect reversal first then only go for long and ones enter in trade then strictly follow stop loss and here as per my own experience one should keep Stop Loss as closing basis.
(PRZ :- Potential Reversal Zone, SL :- Stop Loss, TF :- Time Frame)
As per AB=CD Pattern
PRZ 1 :- 126.50
PRZ 2 :- 116.95
As Per XABCD Harmonic Pattern
PRZ 1 :- 120.25
SL :- 101.15 (Closing Basis)
Target 1:- 129
Target 2:- 136
Target 3:- 144 and more Trailing basis
Note:- As Per this harmonic pattern , stop loss is quite big, so Trade on reversal only if you don’t know what is reversal, Kindly note that and ask in live session so next time you could be able to identify reversal by your self. Even ask doubts in comments, below.
******whatever charts or levels sharing here or on any other platforms are just for educational purpose only, Not A Recommendation To Buy Or Sell. Please do your own analysis before taking any trade on them. We are not SEBI registered.
City Union Expecting BounceNSE:CUB
Buy now at 153-55 or near 149
SL closing below 146
T 162, 170, 178, 188
