The stock has broken out of multiple weekly highs and after giving a good weekly close the stock is now retracing back before another big move. One can look to go long on CMP or any dip till the levels of 95 with a stop loss of 85 on a weekly closing basis below which the breakout will fail. One can expect targets of 115-130-150 in the coming weeks.
NOTE: NOT...
BSE:UNIONBANK
Trendline + range brake out on the chart.
Entry= High of last candle i.e 154.20
Sl= Last swing low (Daily candle close below 144)
Target= 1:2
Note: only for educational purpose. not a buy/sell recommendation
The stock has been forming a rounding bottom pattern and this similar pattern was witnessed in BSE as well which turned out to be pretty rewarding . the fundamentals of the stock are pretty progressive and growing , both the technicals and the fundamentals are supporting each other.
Union bank has breached it’s 10 year long resistance level and is just below it’s 4 year long resistance. Once the breakout happens, one can initiate buying.
It is also trading above it’s 200 days ma.
Targets are mentioned in the chart.
📈 Stock Name - Union Bank Of India
🌐 Ichimoku Cloud Setup:
1️⃣ Today's close is above the Conversion Line.
2️⃣ Future Kumo is Turning Bullish.
3️⃣ Chikou span is slanting upwards.
All these parameters are shouting BULLISH at the Current Market Price and even more bullishness anticipated AFTER crossing 159.
🚨Disclaimer: This is not a Buy or Sell...
Union Bank of India has formed Inverted Head & Shoulders Pattern on monthly timeframe.
This bullish technical formation often signifies a potential trend reversal, hinting at a shift from a downward trajectory to an upward one.
Adding to this positive outlook, the Relative Strength Index (RSI) has climbed above 60, indicating a growing strength in the stock's...
NSE:UNIONBANK
Union Bank of India is engaged in providing banking and financial services. The Bank offers products and services in three categories: Deposits, Loans and Advances, and Remittances and Collections.
TTM EPS: 7.28
TTM PE: 5.65
Sector PE: 20.33
Book Value Per Share: 89.52
P/B: 0.46
Face Value: 10
Mkt Cap (Rs. Cr.): 28,090
Some...
NSE:UNIONBANK
✅ #UNIONBANK trading near Resistance of 140
✅ Next Resistance is at 182
Related charts:
Charts are self-explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined.
Disclaimer: This is for demonstration and educational purpose only....
Union Bank is making 2 cup and handle pattern - one embedded on another. Once its crosses 98-99 with good candle, we can expect first target of 131 (small cup and handle break-out) and second target of 180 (large cup and handle break-out). Other parameters:
1. Volume increasing
2. RSI above 60
3. MACD positive
"Clean Chart, Easy Chart"
Learing and Earning!!
Cheers!!!
Union bank is one of the top 5 largest PSU banks of India.
We have seen an amazing rally in PSU banks in the last couple of years on the basis of improved profitability and asset quality.
Technically, Union bank has a big scope of uptrend possible as the stock has recently broken the resistance of 100.
Positional traders can look for targets of 140, 175+ in next...
On Monthly Chart, it is breaking a 13 year old treadline
On Daily Chart, Multiple Patterns are visisble supported by Volume
In long term , close above 96 can take this to 134 135
Checkout an amazing breakout happened in the stock in Weekly timeframe, macroscopically seen in Daily timeframe. Having a great favour that the stock might be bullish expecting a staggering returns of minimum 25% TGT. IMPORTANT BREAKOUT LEVELS ARE ALWAYS RESPEECTED!
NOTE for learners: Place the breakout levels as per the chart shared and track it yourself to get...
