Since 20th August 2018 Yes bank is in downtrend and fallen to 150 level from Rs 400 and continued to be in downtrend till 31st December 2018. Now it has given given a Breakout of its strong resistance line . Expecting it to cruise towards 247 level. One immediate resistance is 193.25 level and one should wait for prices to cross it. Moreover it has also given breakout on Bollinger Band. Stochastic RSI is also given buy signal along with Breakout. 247 could be the first target ( which is at 38.7 % Fibonacci retracement and if up move continues , then 277 and 307 can also be achieved.
Declaimer : This analysis is for education purpose only.
Declaimer : This analysis is for education purpose only.
Comment:
Today it has tried to cross the immediate resistance level (as described above) of 193, but rejected. However still respected the immediate support trend line. upmove would start after crossing the immediate resistance line
Comment:
Cruising towards target