UNIONBANK

UNIONBANK has given a close at 129.20. UNIONBANK is in a downtrend since October 2010. After a long downtrend of two years, it is now consolidating since September 2013 in a trading range. After a long downtrend, it is quite possible that it might NOT breakout and continues the consolidation but we have to take these kinds of chances before it breaks out. As the Stop Loss will
be very small, we can go long ONLY above 134 and keep a tight Stop Loss of 128 on closing basis. The targets can be set at 142 & 150. We will analyze again at that point in time about holding the position.