Union Bank of India has target of Rs 178: Gujral
Published on Tuesday, October 14th, 2008 at 2:02 PMAuthor: admin (5507 Articles)
Technical Analyst, Ashwani Gujral is of the view that Union Bank of India has target of Rs 178.
“The interesting bet in all of these PSU banks is that they made their July 15 lows and go and test them. Union Bank, the low it made around July 15-16 was around Rs 95. It never went and retested, it never even went below Rs 125. Since PSU banking is coming into fashion all over the world, the time may have come. It has good support at Rs 135 and you could see targets of Rs 178 and then Rs 200. If there is any kind of stability that is returning, this is probably the first sector to move up.â€
Disclosure: Analyst doesn’t hold the stock but have recommended it to the clients.
Source : MoneyControl
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