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#UNIONBANK : midterm trade setup:

Technicals:

💠 Distribution zone BREAKOUT in the form of Cup with Handle pattern.

💠 Good volumes

💠 Our trend indicator turned bullish

💠 Multi-year trendline breakout

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Fundamentals:

💠 Positive sentiments across the sector of PSU bank

💠 largecap company with the Market cap of 75000cr

💠 Improving QoQ results

💠 Undervalued as P/E and P/B ratio's are low

💠 increasing institutionals stake while reducing stake of public

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Trade levels:

💢 buying area : 100-102

💢 stoploss: 85 ( max drawdown -16%)

💢 targets: 160-260 ( potential gain 150%)

💢 holding period - 3 months to 12 months