UNIONBANK - Technical Analysis with Chart Patterns & Indicators

Last Updated Time : 19 Sept 25, 2:16 pm

Technical Rating: 4.0

Here’s a detailed technical analysis of Union Bank of India (UNIONBANK)

📊 Trend Overview

Current Trend: The stock is in a moderate uptrend, showing signs of strength with price action above key moving averages.

Price Action: Trading at ₹137, above both the 50-DMA (₹135) and 200-DMA (₹131), indicating bullish bias and trend continuation.

📈 Momentum Indicators

RSI (59.1): In the bullish-neutral zone. Indicates healthy momentum with room to rise before overbought levels.

MACD (0.21): Positive crossover, suggesting early bullish momentum.

Volume: Strong volume (1.37 crore) compared to 1-week average (1.05 crore), confirming active participation and buying interest.

📉 Moving Averages

Indicator Value (₹) Signal

50-DMA 135 Support

200-DMA 131 Strong Support

Current Price 137 Above both DMAs

📌 Bollinger Bands

Price is near the upper band, suggesting strong momentum but potential short-term resistance.

A breakout above ₹140 could open up a move toward ₹150+.

🧭 Support & Resistance Zones

Immediate Support: ₹134–₹135 zone

Major Support: ₹128–₹130 zone

Immediate Resistance: ₹140–₹145 zone

Major Resistance: ₹150–₹159 (52-week high)

🎯 Entry & Exit Zones

Optimal Entry: ₹134–₹136 (on pullback with MACD support)

Exit Zone: ₹150–₹159 (resistance zone), ₹165+ if momentum sustains

🔍 Conclusion

Union Bank is trending upward with solid MACD and RSI signals. Price action above key moving averages and strong volume confirm bullish sentiment. A breakout above ₹140 with volume could signal further upside, while a pullback to ₹134–₹136 offers a favorable entry. The stock remains in a bullish trend with short-term consolidation near resistance.

Let me know if you'd like a comparison with other PSU banks like Canara Bank or Bank of India!

Edit in a page