City Union Bank
CMP - 164
Stop - 155 on DCB
T1 - 200
T2 - Open, Review at 200
Expected Holding Period - 60 trading days or earlier for T1
Ideas being shared only for educational purpose
Please do your own research or consult your financial advisor before investing
The price breached the downtrend line with high volume and rallied to change the market structure. At present, the RSI is at ~63. The price may test the 170 for demand before moving up. This narrative is supported by the need for RSI to cool off a bit or else the move will soon become extended. Long positions can be added on the retest of 170 level. The market...
Price inside a channel and forming a symmetric triangle within the channel and today after taking the trend line support price is bullish and strong. One can expect a triangle breakout and the target would be the top of the channel.