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Visionary_Growth_Insights
Jan 7, 2024 6:57 AM

SWING IDEA - YES BANK Long

YES BANKNSE

Description

Yes Bank stock presents a compelling opportunity for a swing trade, supported by strong technical indicators:

Reasons are listed below :
  • Multiple tests at the 21 levels culminated in a decisive breakout.
  • A significant marubozu candle on the weekly timeframe signals bullish momentum.
  • The breakout was accompanied by a notable increase in trading volumes.
  • Ongoing formation of higher highs indicates a sustained upward trend.
  • Positive positioning, as the price is trading above both the 50 and 200-day Exponential Moving Averages (EMA), reflecting momentum strength.


Target - 30 // 49
StopLoss - weekly close below 20.85

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@Visionary.growth.insights

Trade active

price made a high of 8% from buying

Trade closed: target reached

we got 28% on this trade and we are still holding

Comment

stock made a high of 36%+

Comment

Price retraced back to crucial zone of 21-22 and is now bouncing back

Comment

Bullish marabozu candle formed.
Comments
4576c7aa2bb04832b704aee8c03904
Is it falling or gaining to what target?? seems falling as more sellers than buyers. confused as too much volatile and consolidating same place for long.
Visionary_Growth_Insights
@4576c7aa2bb04832b704aee8c03904, According to price action, the stock seems to be in uptrend. Talking about volatility - Yes, the stock is volatile but we have to bear with it. The only thing we can do is stick to the plan and follow stoploss with discipline.
TARGET - 31(achieved) // 49
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