UNIONBANK trade ideas
union bank lokking bullishReasons:
Recommended as per 100 sma
At a support
FII and DII have raised stake in june 2021... can be seen in huge volumes
taking support at dynamic support line
Union Bank Of IndiaBuy-36-37
SL-33 Below Closing Basis
Target-41-45-50
Time Frame-1-2 Months
All Are Waiting For The Bank Upmove.
Stock Is Almost Touching The Support Zone.
Good Risk/Reward Ratio Available.
Close Below SL Will Send The Stock To Consolidation/Sideways.
So Calculate The Risk & Follow The Levels & Enter..
Union Bank Formed a Cup and Handle PatternCan go Long above 41.50. Keep on your radar for the following targets.
T1-63.70
T2-86.60
Patience is key.
Triangle pattern in #UNIONBANKThere has been a formation of triangle pattern. If breakout occurs, it will once test the level of 40.30. If closed above it on 15 minute time frame, a target of 41.30 (previous high) cannot be ruled out.
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union bank triangle patternif the triangle pattern breakout happen the target is 58 rs ... if u take a trade.. proper analysis and then take a trade at your own risk. all details mention in above chart...
UNION BANK- Stock is trading in the cup and handle pattern.
-Stock break and sustain above 43 Next level to 48/53/60/66 levels .
-Support is near 32 level on chart.
Union Bank clasical cup and hadle with volume !!!Union bank : cmp 40.15
Highlights :
1. cup and handle pattern
2. increasing weekly / monthly volume setup
3. first signs of breakout above 40
4. yearly breakout
trade set up :
1. buy above 40
2. keep stop loss below 33 on weekly closing basis .
3. target 1 : 48.20 / target 2 : 52.55 / target 3 : 59
4. breakout cup & handle macro target seen at 63+++
CONFUSED ABOUT REUNION, SEE UNIONBANK ...THERE IS A STRONG "EVENING STAR PATTERN" BUT AS THE STOCK CONSOLIDATES SINCE THE BEGINNING OF 2020, HIGH CHANCE TO GO UPSIDE.
AFTER CROSSING THE 39 MARK, SHOULD SHOW A BULLISH TREND.
IF NOT HAPPENED SO, THEN TRY SELLING...
#EDUCATIONAL
UNION BANK OF INDIAi am bullish on nifty midcap 100 and the volumes of this stock are increasing continously plus it just retested the 20SMA and is booming
BUY CALL ON UNION BANKBuy for short term target of Rs 42.
For long term investor can go blindly on this share.
UNION BANK ON VERGE TO CLEAR BREAKOUT !!!!THE CHART IS BEAUTIFULLY FORMING A CUP AND HANDLE AS WELL AS REVERSE HEAD AND SHOULDER PATTERN IN DAILY CHART....
YOU CAN WATCH MY ANALYSIS FOR CLEARIFICATION
ENJOY!!!!
Union Bank ka time aayegaSurge in volumes.. attempting a breakout of the trend line. In medium term it should aim for 47++
Union Bank-On verge of breakoutUnion bank on verge of breakout. Can move towards 65+ levels soon.RS is at zero line therefore this can move.
Union bank - Multiple cups and handles - 86% growthUnion Bank of India is engaged in the Business of Banking Services, Government Business, Merchant Banking, Agency Business Insurance, Mutual Funds, Wealth Management, etc.#
Branch Network
Presently, the bank has a network of 9,587 branches# and 12,961 ATMs# across India.
Its network almost doubled from 4,281 branches and 6,895 ATMs before the merger with Andhra Bank and Corporation Bank.
Customer Base
The bank has a customer base of 12+ crore customers post the merger with Andhra and Corporation Bank.#
Sales growth: 84.9
Profit growth: 182%
This growth is not yet reflected in its market price. Union bank is one of the top 5 government banks. It is now above its critical resistance zone which will act as a very big support zone. Personally, I will wait for a breakout in its small cup and handle.
Disclaimer: this is an educational analysis and not a recommendation to buy or sell. Please do your own due diligence or consult your advisor before taking any action based on this chart analysis.
UNION BANK - expecting 3xUNION BANK
MID TERM VIEW
(3 months to 24 months)
Accumulate between 30 to 35
Weak below 23
59+ & 83+ are the probable levels
Ultimate target is 97+ (3x)
Swing Opportunity in Union BankGo Long above 35.55 for a Target of 36.9 with SL 34.2
Reasons to go Long :
1. On a daily timeframe if we draw the Fibonacci retracement tool from recent swing low (point A) to recent swing high (point B) then we see stock took support from 0.618 Fibonacci level.
2. A bullish candlestick pattern, Bullish Engulfing (marked with an orange circle) is formed at 0.618 Fibonacci level.
3. Also the stock is forming a bullish chart pattern ( Double Bottom / W Pattern) around 0.618 Fibonacci level.
4. In addition to this there is a Trendline providing support to the stock (marked with green color). Our Target is placed just below the Trendline providing resistance to the stock (marked with red color).
5. If the stock gives a breakout then we can expect higher targets and the gap can also get filled.
