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Price and trend forecast of UNIONBANK for Tomorrow, Weekly, Monthly

Union Bank of India

Symbol: NSE:UNIONBANK

ISIN: INE692A01016

134.73

As on 2024-07-23

84.85 (52W Low) 172.50 (52W High)

UNIONBANK's Today's Performance

Union Bank of India started the day by opening at 136.98 today 2024-07-23. Its shares reached a high of 137.18 and dipped to a low of 129.10 in intraday. When the markets closed, UNIONBANK’s stock price settled at ₹134.73 per share. Also check out its key support and resistance levels.

UNIONBANK Buy/Sell Targets

Tomorrow, sell UNIONBANK when its price reaches ₹ 134.73 with a stop-loss order at ₹ 137.37. You can set the target price as ₹ 132.09 to capture potential gains. This sell position balances the risks and rewards evenly, aiming for a 1:1 risk-reward ratio.

In the sections below, we will discuss detailed share price target of UNIONBANK for tomorrow's session along with weekly levels. Please note that these share targets analysis is only valid for tomorrow and the current trading week and month.

Important Down levels for UNIONBANK

Downside Targets Value in ₹
Tomorrow Down Target 1 138
Tomorrow Down Target 2 142
Tomorrow Down Target 3 146

Important Levels for UNIONBANK

Holding Levels Value in ₹
Tomorrow Up Target 1 130
Tomorrow Up Target 2 126
Tomorrow Up Target 3 122
Based on where the stock opens tomorrow, if UNIONBANK opens on a positive note, our first target will be ₹138. If Target 1 is achieved, we will aim for Target 2 which is ₹142.

But if UNIONBANK falls below the average value of ₹133.67, you can enter a sell side position with target number 1 - ₹130 and second target - ₹126 This average value also act as support and resistance level. When the stock is trading above the average, it will act like support area. Another important thing is, stocks usually get back to this average value when the price trades too far from avg. In simpler words we can consider the average price as a magnet.

Daily Volume chart of UNIONBANK

Looking at UNIONBANK, we've seen a Increasing trend in its trading volume over the past week, which really tells us how active traders have been with this stock.

In terms of its price, UNIONBANK has been on a Downward path, giving us insights how its value changes in the market.

Based on this, the predicted sentiment for UNIONBANK is strong bearish.

Tomorrow's Volume based share price Forecast for UNIONBANK

UNIONBANK's Volume is currently in a Increasing trend, and Price is in a Downward direction. Therefore, we can say the stock is in a strong bearish trend. Volume trend strength over the last month compared to the last week is 37%.

Reversal detection for UNIONBANK

Predicted trend chart of UNIONBANK tomorrow for price forecast
UNIONBANK may reverse its trend from downside (Short term bullish outlook) and we can get target of ₹136 in morning tomorrow
Target 1 tomorrow137
Target 2 tomorrow139
Target 3 tomorrow142
 

Investferry’s trend analysis method detects short term overbought and oversold situations to identify reversal in stocks. Use this as reference for short term counter trend trades.

Combine this trend forecast with UNIONBANK's tomorrow's target prediction and you will have a base for what can be done in the upcoming trading session.

Based on where the stock opens tomorrow, if UNIONBANK opens on a positive note, our first target will be ₹138.24. If Target 1 is achieved, we will aim for Target 2 which is ₹141.75.

But if UNIONBANK falls below the average value of ₹133.67, you can enter a sell side position with target number 1 - ₹130.16 and second target - ₹125.59

UNIONBANK's Weekly Targets
1st Up Target 139.43
2nd Up Target 144.12
1st Down Target 129.57
2nd Down Target 124.40

As the week for UNIONBANK ended on bullish sentiments, we can expect further continuation of this sentiment. UNIONBANK's initial target will be 139.43 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 129.57 in the upcoming week.

Weekly OHLC Values
Open 134.65
High 138.96
Low 129.10
Close 134.73

Week for UNIONBANK started with an open price of 134.65, and the close was at 134.73. UNIONBANK reached the highest of 138.96 and dipped lowest up to 129.10 last week. This indicates a bullish sentiment for the week.

UNIONBANK full month swing targets
Monthly Up Target 1 149.29
Monthly Up Target 2 153.98
Monthly Down Target 1 119.71
Monthly Down Target 2 104.68

Targets of ₹149.29 can be expected to be reached in the coming month. Once UNIONBANK achieved this target, we can aim for the next upside target of ₹153.98.

UNIONBANK if fails to hold upside, down targets of ₹119.71 and ₹104.68 can be achieved by end of this month.

For complete three weeks if UNIONBANK is bullish, the stock may decline in the last week on the month as traders usually close their positions. So in this case, you should aim for weekly support level which will act as targets here.

Related Stocks in the Same Sector as UNIONBANK

Symbol Name Industry
HDFCBANK HDFC Bank Limited Banks - Regional
ICICIBANK ICICI Bank Limited Banks - Regional
SBIN State Bank of India Banks - Regional
LICI Life Insurance Corporation Of India Insurance - Life
BAJFINANCE Bajaj Finance Limited Credit Services

Summary

UNIONBANK is expected to reach the target of 138.24 in tomorrow's trading session.

After achieving the initial target in UNIONBANK, we will aim for higher targets of 141.75 tomorrow.

However, if UNIONBANK starts to trade below ₹133.67, then we will shift our focus to the sell side and aim for down targets of 130.16 and 125.59.