UNIONBANK trade ideas
union bank of india Lender's net profit more than doubles year-on-year in June quarter to 32.36 bln rupees
** Interest earned rises 29% to 234.78 bln rupees, while provisions fall 39% to 20.05 bln rupees
** Asset quality improves sequentially with gross non-performing assets (NPA) at 7.34% compared with 7.53% in the previous quarter
** Q1 performance robust, driven by higher treasury gains and lower provisions
Strength Gaining Stock! #UNIONBANKStrength Gaining Stock!
Union Bank of India #UNIONBANK
1- Cup & Handle Formation
2- MACD Positive Crossover
3- Moving up with High Weekly Volume
Note: Technical Analysis is for Educational Purpose. I am not SEBI registered. Consult your financial advisor for any Investment Advice.
UNION BANK OF INDIA : CUP Pattern..!5 Steps Analysis of UNION BANK OF INDIA
1. Stock on Daily TF we can see that from Jan.2023 Stock was going downtrend till mid of the march.
2. From 29th March we have seen that Breakout with high volume made and trend was changed.
3.From Starting of the April to till date we can see that stock is making higher high formation.
4.Stock has made CUP Pattern formation from Jan.2023 which is still sustain with strong momentum.
5. If Stock has sustain 75 level and give follow up closing above this level then in coming days we can see upside move at 83 to 86 levels with support of 75.
UNION BANK 12 JANUARYUnion Bank of India stock shows a flag pattern today( 11 January 2023), so tomorrow it can move in both directions, depends on the direction, trades can take trade and make money.
If, it breaks resistance than,
Buy = 78.95, Target 1 = 79.70, Stop LOSS = 78.55
If, it breaks support than,
Sell = 78.10, Target 1 = 77.85, Target 2 = 77.35, Stop LOSS = 78.55