Tuesday 2 August 2016

United Bank - short term view

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United Bank on daily chart stock price is making lower low and lower high pattern also stock price is trading below 20 DMA indicate ongoing negativity will continue into the stock price.

Through Retracement stock price is trading near 38.2 percent, any closed or trade  below Rs.21.94 level,. stock price will extend its loss towards 61.8 percent at Rs. 19.85 level.

Looking towards chart, major resistance seen at Rs 23.11 level, on the flip side Rs. 20.27 will act as a strong level.


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