CUB- Breakout In formation
Updated
City Union Bank: CMP: 163.03; RSI: 65.35
Cup and handle formation has fizzled out in past, while the price action is a range bound. Ascending triangle pattern (contracting) is visible on charts.
If, CUB, breaks-out above 171.50 level than new lease of life in script will take it to new heights.
For Aggressive traders: BUY at 159-163 Level; for a target of 170-171.5 in a weeks time frame. Stop Loss of Rs 155
For Investor:: buy only above 171.50, after clear breakout for a targets as below
Immediate Target: 177
Target-1: 185.2 (2 months); Stretched Target-2: 207 (6 Months)
Stop loss: 151.65.
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Cup and handle formation has fizzled out in past, while the price action is a range bound. Ascending triangle pattern (contracting) is visible on charts.
If, CUB, breaks-out above 171.50 level than new lease of life in script will take it to new heights.
For Aggressive traders: BUY at 159-163 Level; for a target of 170-171.5 in a weeks time frame. Stop Loss of Rs 155
For Investor:: buy only above 171.50, after clear breakout for a targets as below
Immediate Target: 177
Target-1: 185.2 (2 months); Stretched Target-2: 207 (6 Months)
Stop loss: 151.65.
✅ For More Such Trading Idea stream Like this, Please like, Share and Follow, MY IDEA STREAM ✅
Note
Buy CUB below 167.3 for a BTST or Day trading for a target of 170Trade active
This recent correction in the bank nifty led by HDFC bank share downfall, has given a good opportunity to take a fresh position in city union bank shares for a target of 185 Rs., in near term.Trade active
Script is facing stiff resistance at breakout level (171.50) and two previous attempt has been rejected, because of global headwind and Bank nifty. Third attempt should be decisive and CUB may take up a northward journey, stay invested Trade active
Good Time to re-enter, the script.
One more swing trade opportunity is in formation.
Take position at 159-163 Level for a swing target of 171 in 2 weeks time frame.
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Trade active
Good time to accumulate the script. Chart structure is intact and script is showing resilience.Order cancelled
Book Profit and come out of the script till the market stabilize or hold the position with trailing stop loss (previous day low of the script to be kept as strict stop loss for the next session on intraday basis). Long term chart structure is intact, 
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