CUB.NSE City Union Bank Ltd.

ICICI Securities is bullish on City Union Bank has recommended buy rating on the stock with a target price of Rs 170 in its research report dated April 21, 2024.

The market turned volatile at 22,500 as it priced in the non-event. Once the index closes above 22,600, one can expect a march towards 22,700-22,800.

In terms of levels, immediate resistance for Nifty 50 is notable at 22,800, a significant level on higher time frames, with further resistance observed at 23,170 and 23,400.

There is an expectation that the tax exemption of capital gains bonds could be hiked to Rs 1 crore from Rs 50 lakh now, and the interest exemption on housing loans could be raised from Rs 2 lakh now.