Technical Outlook & Trading Strategy:-
The share price movement of Union Bank of India as registered a breakdown from its descending triangle pattern.
This is a bearish formation and the measuring implication of the pattern suggests that the price can decline to the levels of Rs 275 / Rs 270 in the short term.
We recommend traders to sell 50% now and again at Rs 291 - Rs 293 with a stop loss placed above Rs 297.10 levels.
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