High Risk/Reward Ratio on UNION BANK OF INDIA Stock to go long here.
Exposure to Gitanjali Gems NPA has been blown out of proportion in relation to this stock. Time to be greedy when others are fearful. Getting behind this stock at these price levels which havent been since since early 2007 becomes a smart play.
Union Bank is at a very strong support zone and might bounce off it. One should wait for a single day candle to close above 126 mark to enter long. RSI shows upward momentum and MACD is about to cross over.
Enter trade - 126-129
1st profit target - 140
2nd profit target - 150
3rd profit target - 180
Stop loss - 104
Please do your own research before entering the...
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.
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Long trend line on Union Bank at 1hr time frame. There is a range in between the buy level and target 1 - 153.15 and the price may hold on the level 153.15 for some times. Once the range also get broken then it will touch the target 2 - 155.35
Buy above - 150.50
Target 1 - 153.15
Target 2 - 155.35
Stop Loss - 148.50
It is been observed on the daily chart that the price action is observing a buying at a support levels of 170, where the buyers come back. Now, it shall further move up to the previous resistance levels.
Target 1: 185
Target 2: 190
Union Bank has been entered into bearish trend and has been start retracing, we may see a 1st target of 132 as 50% fiob level to reach in near term and if this level broken next target of 138 as second target. traders may enter long in the stock with a target of 132.
Union Bank of India has been trading in up trend and now it is on the edge and can go either way, it closed forming a shooting star candle stick pattern which is very bearish sign, on the other hand it closed inside the up trend line. traders may go long if market open green with a target of 172.00 in near term or if market open gap down then it will enter into...
Union Bank after touching its long term resistance turned bearish towards its support and broke the support at 140.00, now stock seems to be in downward and approaching the near term support at 120.65. trader may go short on this stock with target of 120.65. If market go green and bank nifty to green then we may see upside movement else down trend will prevail.
The stock is in oversold zone making divergence also getting support from the trend line. Possible long at this level on hourly chart that means it has to be continued overnight to reach the target. A good point to enter long with small stop loss.