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There a are some patterns Union bank is creating on daily chart which shows a possible reversal. However, market direction still not positive. One can keep a watch on Union Bank, and make long position with any sign of reversal.
Keep SL at 64
TGT and SL given below
It is observed that Union Bank is moving in an ascending channel. So lower trendline is support and upper is Resistance. So it can breakout either ways. So watchout for the breakout. Tgt after breakout would be the height of channel, in this case is 11 pts. The two red lines are good S & R levels. So buy above the lower red line ...
Stock can go down below 200EMA and support level
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 broken out the resistance zone as well as formed ascending triangle and looking very strong at this moment. It can provide very good return so it should be a good buy with stop loss @155 and for target 168
it is in the zone of multiple area of supply zone. it needs to cross the hurdle of 159 to move higher. it i sevident from the formation of series of pinbars. rsi is finding resistance at the level of 62.2. It is weekly chart