Bravetotrade

Yes Bank: Will This Breakout Fructify?

Long
NSE:YESBANK   YES BANK
I published Yes Bank long idea yesterday but mistakenly as a private idea. Rectifying my mistake.
It would be interesting to see this idea in a negative market environment.

Regards.
Comment: For day traders 324-325 could be nice spot to book partial profits.
Comment: Now we are talking :) New highs.
Comment: second place to book profit for daytraders 327-329
Comment: The stock came off the highs but closing is not bad in a negative environment. Hope is still there for the first target.
Comment: The stock has some event today but the breakout on the chart two days before the event is an indication that something positive might be in the offing. That's why I never trade news bcoz in most cases stocks find their direction a few days before an event.
Comment:
I think we should also consider this beautiful pattern, which is in the making, for intraday fresh entries.
Comment: I ll consider some buying near 323-324 with SL @ 321 for the day.
Comment: The sentiment might change from bearish to bullish above 327.20 coz most of the sellers would be stopped out at that level. Whether fresh buying emerges or not is a matter of time but booking some near 328.50-329 would be wiser.
Comment: First target hit.
Comment: As expected 327.20 proved to be a sentiment changer.
Holding partial now for second target.
Comment: Trailing stop 335.50 now.
Comment: Holding only 1/3 rd position now.
Trade closed: target reached: Closed at 348.90
Comment: Thanks guys for ur support.

JJ Singh
Full TIme Trader/Investor
Moderator, TradingView

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