The inventory of Union Financial institution of India has been declining for the reason that starting of this month, dropping almost 8 per cent thus far in Might. On Friday, it marked a low of ₹137.6 earlier than closing the session larger at ₹142.
The chart exhibits that the inventory worth of Union Financial institution of India has largely been oscillating between ₹140 and ₹160 for over two months. Notably, throughout this era, the inventory has rebounded thrice off ₹140.
So, the likelihood of a rally from right here is excessive. If to not the vary prime of ₹160, we anticipate the worth to hit ₹150 this week. Go lengthy now at ₹142 and accumulate at ₹138. Place stop-loss at ₹135. When the inventory touches ₹146, tighten the stop-loss to ₹142. Exit at ₹150.
(Notice: The suggestions are primarily based on technical evaluation. There’s a threat of loss in buying and selling.)
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