In recent CUB chart show AB lag
Simply identified chart pattern is AB=CD
So, as per this pattern our target is 235 to 237.
Stop loss is low of point C ....
Now as per my trading style
one can look for buy above 188 for target of
& Stop loss is 168 So Risk of 20 point for target of 49 point
Risk reward ratio 1:2.45
The stock has been under secular uptrend over past two years. Currently highs in the 188-193 zones, the stock has been consolidating in a sideways move over past couple of weeks. The prices have attempted a breakout and is set to assume its up move again. The Weekly MACD has reported a positive crossover and it is now bullish while trading above its signal line. A...
CUB - cmp 172.
Bias : Long
1) Price holds support at upward sloping trend line.
2) Price holds support at 30 week ema.
3) Double bottom formation in a bullish structure.
4) Cup formation observed.
5) Price pierces past downward sloping trend line with above average volumes.
6) Stop : Breach below 30 week ema.
Script - City Union Bank
NSE Code - CUB
Pattern - Symmetric Triangle
Breakout - Either Long nor Short
Trend - Neutral
Position - Long
Entry - above 160.90
Exit - 167.90
Stop loss - 156
Position - Short
Entry - below 154.5
Exit - 148.50
Stop loss - 159