UNIONBANK trade ideas
Union Bank Trade IdeaUnion Bank is making a broadening wedge pattern in daily time frame.
We have closed above the pivot(orange line) with good volume which is a bullish sign now we need to stay above it for next few days for further trend continuation.
and there is beautiful relation which is found out to be with price and time, so just being bullish biased upcoming rally can take 27 days.
Entry- 58.35
Targets- 65-67-70
Stoploss- 55.90
Trend invalidation- Any daily close below 53.20
#UNIONBANKUNION BANK OF INDIA
Sector: Financials
Industry: Banks
Employees: 37262
Union Bank of India is an India-based bank engaged in providing banking and financial services to its customers. The Bank offers products and services in three categories: Deposits, Loans and Advances, and Remittances and Collections. Its segments include Treasury operations, Corporate and Wholesale Banking, Retail Banking operations and Other Banking operations. The treasury division is engaged in domestic treasury operations, forex operations, fixed income, derivative products, equity and other alternate asset classes. The Bank offers Internet banking, mobile banking and cash management services. The Bank offers its products and services for micro, small and medium enterprises (MSMEs). The Bank offers retail loans schemes for home loans, auto loans, educational loans and others. The Bank also offers various types of deposits, such as current, savings and term deposits. The Bank has a branch network of over 4,200 branches across the county and approximately four branches abroad.
UNIONBANK IB Trade Long if it breaks the high of the previous day with a stop loss at the previous day's low.
Short if it breaks the low of the previous day with a stop loss at the previous day's high.
In case of gap up above the previous day's high or gap down below the previous day's low, please avoid buying it or selling it respectively. Follow the ending of the candle formed in first 5 minutes and follow ORB strategy.
