INDEX trading

Reliance Securities gives technical outlook recommendation to 'BUY' City Union Bank

Sensex Today Live : City Union Bank technical recommendation

Reco. : BUY

Reco. Range: ₹133-138

Target: ₹165

Stop Loss: ₹123

The stock has made higher bottoms on its monthly charts at 130-135 levels holding its long term band of averages.

The higher bottoms structures indicate a strong upward breakout as shorter time frames are indicating a strong reversal.

Stochastic & RSI are inching upwards from their averages on multiple time frames and both the indicators are in bullish mode

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Indian benchmark indices had erased some of their gains but were still near their all time highs in the second phase of trading on the special live trading session being conducted by the bourses.

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The Cleveland Fed’s Loretta Mester said inflation data out Thursday showed that policymakers have more work to do to cool price pressures, but said it didn’t change her expectation that the Fed will cut interest rates three times this year