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.