Investors with a short-term view can sell the stock of Union Bank of India at current levels. The stock has been in an intermediate-term downtrend since encountering a key resistance at ₹190 in October 2017. Medium-term trend is also down for the stock.

On Thursday, the stock fell 3.3 per cent with good volume decisively breaching its 21-day moving average. With this fall, the stock appears to have resumed its medium-term downtrend. It trades well below the 21- and 50-day moving averages. The daily relative strength index has entered the bearish zone from the neutral region and the weekly RSI continue to feature in the bearish zone. Both the daily and weekly price rate of change indicators feature in the negative territory implying selling interest.

Overall, the short-term outlook is bearish for the stock. It can continue to decline and hit the price targets of ₹82.5 and ₹81 in the coming trading sessions. Traders can sell with a stop-loss at ₹88.

(Note: The recommendations are based on technical analysis. There is a risk of loss in trading.)

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