City Union Bank

#1
City Union Bank has established a support at 122 level. The accumulation by smart money is in progress. This is a good positional strategy to make an entry and accumulate at these levels, with a stop loss at 110.
 

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#2
Thanks. To me it looks like a head and shoulders pattern with the lower range as the neckline. Doesn't seem a healthy buy below the upper line.

You can directly post the charts in the reply box.

 

sanju005ind

Investor, Option Writer
#5
i should have posted this in swing trading forum. Horizon is not more than 1-2 weeks
Then why dont you wait and take it if it closes atleast above the fast MA (100 in your case)or above the range. Always buy when there is strength especially when you plan to swing. What if they plan to accumulate another month or two?
 

sanju005ind

Investor, Option Writer
#7
............ and what conclusions would you all derive from the monthly ?

View attachment 43675
On monthly if it does not close below 110 and closes above 150 then it becomes virtual low ;). Food for thought when the whole market went up by 35-40% in the last 4 months and this one did not move.Then why look at this one. Rather there are plenty of other opportunities. TP, sir he wants to take a swing so he may not bother with monthly chart.
 

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