UCOBANK trade ideas
UCO BANK : CUP Pattern Formation..!5 Steps Analysis of UCO Bank
1. Banking Sector and PSU Banks are leading the market well. We had seen that from last week all Banking Stocks Performing well.
2. All PSU Banks are currently at value buying Levels.
3. Among them UCO Bank Performing well and on Daily TF we can see that Stock has made CUP Pattern Formation with high volume.
4. All Momentum Indicator like RSI on Daily, Weekly & Monthly Basis Showing Strength to going upside.
5. With the Support at 27.40 level can Enter at CMP & Upside move can see in coming week at 32 & 34 Levels.
Flag and Pole Pattern in Uco Bank(Weekly Timeframe)!!!!!!!!!!!!! FLAG AND POLE PATTERN FORMATION IN UCO BANK
Uco Bank made Flag and Pole pattern in Weekly Timeframe But price is still trading inside rectangle(Flag). We have to wait till the price to go up and break the upper side of Flag. If it successfully breaks and closes above 28.55 . Then there will be a nice Long trade in UCO Bank .
Entry = Above 28.55
Stop Loss = Below 22.30
Target = 37.95
UCO Bank Ltd.*UCO Bank Ltd.*
Multiple Year Trendline
14% Upside Needed @ 33.70: To Break MultiYear Price Trendline
Then Good to Go!!!
Strong Vol. Consolidation/Further BuiltUp
*With Upside, Trail SL*
*Book Profit as per Risk Appetite*
Important Resistance at 46 / 56 / 64
*Do Your Own Research as Well. This is Just an Opinion.*
Happy Investing :)