Union Bank of India has given a Fantastic breakout in the form of Inverted Head and Shoulder on the daily charts and a Flag pattern Break out on the daily charts.
The Breakout has come with fantastic volumes and still the stock warrants a buy at these levels.
The stock could be bought with a price target of Rs. 260 and with a stop loss of Rs. 215 the CMP of the stock is Rs. 223.
The risk reward ratio is quiet favorable for the stock and you can go and buy the same either at the current market price or u can wait for a of may be to rs. 220
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