YES BANK trading in Make of Break zone

YES BANK
CMP 191.20

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.

https://in.tradingview.com/chart/YESBANK...

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...!!!

Trade active: Yes Bank
cmp 192.65

One may consider the following strategy

Sell Yes Bank Jan expiry 210 Call Option
CMP 7
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...!!!

Trade closed: target reached:

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...!!!