Union Bank of India – Cup and Handle Breakout Formation on Week.

Union Bank (NSE: UNIONBANK) is displaying a classic Cup and Handle formation on the weekly timeframe, indicating a potential continuation of the long-term uptrend.

Technical Overview:
• Pattern: Cup & Handle
• Breakout Zone: ₹150–155
• Target Zone: ₹175–180 (≈16–17% potential)
• Support Levels: ₹138 and ₹132
• Moving Averages: Price trading above 20W and 50W EMA – positive structure
• Volume: Increasing near the breakout area, confirming accumulation
• RSI: Sustaining above 60, reflecting improving bullish momentum

Observation:
A decisive weekly close above ₹155 with healthy volume could validate the pattern and trigger the next leg of the rally. The setup remains valid as long as price sustains above the handle’s low around ₹138.

Disclaimer: This analysis is for educational purposes only and not a recommendation to buy or sell.