The zone of 191-198 is very crucial for Yes Bank.
Closing above 198 can open doors for target of 208 / 212 / 220
Inability to sustain above 190, then there is a minor support around 186-187 below which can lead to fall up to 182 / 178
Currently we have a neutral stance and will wait for the price action to give some further clues.
You can have a look at our previous coverage & strategy on the stock below for study and understanding purpose.
The short strangle strategy that was recommended in the above post worked to perfection with the stock going sideways for the whole month in the range suggested.
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Take care & trade accordingly...!!!
One may consider the following strategy
Sell Yes Bank Jan expiry 210 Call Option
Lot size 1750
Max profit potential Rs 12250 per lot.
The strategy covers risk for a rise in price up to 217 till Jan expiry
Take care & safe trading...!!!
What happened here... in a matter of minutes Yes Bank after breaking 190 touches 181.50 (achieving its 1st target) and recovers.
Price of 210 call option update fell from 7 to 3.9. Currently trading around 5
take care & happy trading...!!!