Union bank is making corrective pattern here guys, pattern which is running flat for now looks complete, you can wait for it to break the downside trend line to get involved in trade or just wait for it make corrective structure at lower time frame to go long. buy till the break of mentioned resistance.
Chart is self explanatory. Entry, Targets and Stop Loss are mentioned on the chart.
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
Union bank has come out of the trading zone and looking bullish. The volumes are supporting the breakout.
Consider buying on a pullback or buy and trail continuously. If the trade the trade goes wrong exit cost.
Should easily reach target 1 as mentioned on the chart as other the targets. These targets are set by XABCD bat and crab patterns.
Happy trading...
This is my view on UNIONBK;
CMP 44.4 | T1: 60 (~36%) | T2: 70 (~57%) | T3: 86 (~93%)
The rationale for the going long:
- Substantial increase in the volume compared to past 5years.
- Increase in price with volume expansion
- RSI Bullish Divergence
- RSI breakout above RSI 60 level
- Cup & Handle Pattern formation
- Highest revenue and net profits in FY 2021 &...
Unionbank bullish monthly upside
Can watch for near support of 36-38 for a positional tp of 59-60
Kindly support us by giving likes it motivates us to bring
profitable chart setup like this
