City Union Bank Ltd. (CUB) Analysis
Detailed analysis of the chart and key levels for City Union Bank Ltd. (CUB) along with potential targets:
Key Levels:
Support Levels:
₹165–₹170: Recent breakout level (previous resistance turned into potential support). Any retest of this level could provide a buying opportunity.
₹120–₹140: Strong multi-year demand zone. The stock has bounced from this area multiple times in the past, making it a crucial support zone.
Resistance Levels:
₹190–₹195: Immediate resistance near the current price. This level could act as a short-term hurdle.
₹200–₹210: A historically significant resistance zone that aligns with prior peaks from 2022 and early 2023.
₹220: Next major resistance based on the last significant swing high (mid-2022).
Targets:
Assuming the breakout sustains and bullish momentum continues:
Short-term Target:
₹190–₹195: Test of immediate resistance.
₹200: Psychological and historical resistance level.
Medium-term Target:
₹210–₹220: If the stock sustains above ₹200, this zone is the next logical target, as it represents the previous major peak.
Long-term Target (Bullish Scenario):
₹240–₹260: If the stock continues its upward trajectory, these levels could act as long-term targets based on historical highs in 2019.
Risk and Stop Loss:
Stop Loss: Place a stop loss below the ₹165 level (previous breakout zone) to manage downside risk.
Pullback Level: A healthy pullback to ₹170–₹175 could provide better entry opportunities if not already in the trade.
Conclusion:
The stock is showing signs of a bullish breakout from a long-term downtrend. Sustaining above ₹185 and crossing ₹190–₹195 will confirm bullish continuation. Traders can aim for the ₹200–₹210 range in the short to medium term, while the ₹220–₹260 levels are achievable in the long run if momentum persists. Monitor closely for volume confirmation and price action near resistance levels.
Key Levels:
Support Levels:
₹165–₹170: Recent breakout level (previous resistance turned into potential support). Any retest of this level could provide a buying opportunity.
₹120–₹140: Strong multi-year demand zone. The stock has bounced from this area multiple times in the past, making it a crucial support zone.
Resistance Levels:
₹190–₹195: Immediate resistance near the current price. This level could act as a short-term hurdle.
₹200–₹210: A historically significant resistance zone that aligns with prior peaks from 2022 and early 2023.
₹220: Next major resistance based on the last significant swing high (mid-2022).
Targets:
Assuming the breakout sustains and bullish momentum continues:
Short-term Target:
₹190–₹195: Test of immediate resistance.
₹200: Psychological and historical resistance level.
Medium-term Target:
₹210–₹220: If the stock sustains above ₹200, this zone is the next logical target, as it represents the previous major peak.
Long-term Target (Bullish Scenario):
₹240–₹260: If the stock continues its upward trajectory, these levels could act as long-term targets based on historical highs in 2019.
Risk and Stop Loss:
Stop Loss: Place a stop loss below the ₹165 level (previous breakout zone) to manage downside risk.
Pullback Level: A healthy pullback to ₹170–₹175 could provide better entry opportunities if not already in the trade.
Conclusion:
The stock is showing signs of a bullish breakout from a long-term downtrend. Sustaining above ₹185 and crossing ₹190–₹195 will confirm bullish continuation. Traders can aim for the ₹200–₹210 range in the short to medium term, while the ₹220–₹260 levels are achievable in the long run if momentum persists. Monitor closely for volume confirmation and price action near resistance levels.
Disclaimer
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