Union Bank of India (Weekly Chart)

CMP: ₹200.5 Breakout Level: ₹172–₹175 Pattern: Large Cup Breakout (Confirmed) 🟢 Structure Overview Clear multi-month cup: Left high: ~₹175 Bottom: ~₹105–₹110 Right side recovery: Strong Breakout above ₹175 already done This is not a breakout attempt. This is a confirmed breakout with expansion underway. 📐 Measured Move Projection Cup depth ≈ ₹65 Projection: ₹175 + ₹65 ≈ 🎯 ₹235–₹245 Your marked 38% move aligns well with classical measurement. 📊 EMA Structure ✔ Price above 26 EMA (₹161) ✔ 26 > 52 EMA ✔ 52 > 225 EMA ✔ All EMAs rising Perfect bullish alignment. Momentum phase. 🔥 Price Behavior – Important Detail Notice: • Strong impulse candle • No deep pullback after breakout • Expansion with momentum This indicates institutional participation. 🔑 Key Levels Immediate Support: ₹185–₹190 Major Support: ₹172 (breakout zone) Invalidation: Weekly close below ₹170 weakens breakout structure. 🏦 Sector Context PSU banks in second leg: Bank of Maharashtra just attempting breakout Union Bank already expanded Higher beta than large private banks This is a momentum name inside PSU banking theme. 📌 Strategy View Aggressive: Trail stop below ₹185 Conservative: Wait for pullback near ₹175–₹180 Positional Target: ₹235–₹245 Extension Target (if momentum sustains): ₹260+