UNION BANK | TECHNO-FUNDA ANALYSIS

Union Bank of India – 1W

Trend: UNIONBANK is currently in a consolidation phase after a strong rally. Price is holding above its strong support zone around ₹124–₹130, showing accumulation signs. A decisive close above ₹145 may trigger momentum toward higher resistance levels. Support & Resistance Levels: Tested Demand Zone: ₹100.86 Strong Support Level: ₹124.68 Immediate Resistance: ₹145.00 Supply Zone: ₹154.98 ATH Breakout Level: ₹171.95 Fundamentals (Key Points): 🏦 One of India’s largest PSU banks showing significant turnaround in asset quality. 📊 Robust quarterly numbers driven by improved credit growth and reduced NPAs. 💰 Healthy CASA ratio ensuring strong deposit base and stability. ⚙️ Government’s focus on PSU banking reforms aiding re-rating potential. ⚠️ Short-term volatility expected; sustained move above ₹145 needed for next rally. Final Verdict: Positive to Bullish — Sustaining above ₹145 may trigger upside toward ₹155–₹172; strong support seen around ₹125.