YesBank: Bullish Cypher

Sep 2, 2018

Long trade will be opened above 345 for 355-362 zone target.
A tighter stop could be below 336 but the pattern stop is below 325.

If stock falls instead of opening long trade above 345, sub-patterns can be seen on lower TF for better entries.

There is one more reason besides cypher that I am looking for pullback? The hint is in the chart.

Trade only if you can afford to take the risk involved.

Regards

Sep 3, 2018

Trade active

@344

Sep 3, 2018

Note

Aggressive stop today's low 342

Sep 3, 2018

Note

Stop was triggered and position reversed at day low 342 which was covered at 338.30. So with this little discipline a losing trade turned out to be a profitable trade.

I ll look to buy later and ll update.

Sep 5, 2018

Note

Yes bank has been consolidating. Tomorrow I ll see how the stock behaves in the 340 support zone, looking for buying opportunities.
Second important zone is near 350 resistance. Some profit booking can be considered in this zone if some weakness is shown.
If stock sustains for some time above 350 then I ll look for gap fill theory, targeting 355 and 360.
Let's see how it performs tomorrow.

Sep 6, 2018

Note

Stock is finding some support near 340, I ll consider long if mkt conditions are ok.

Sep 6, 2018

Note

Sep 7, 2018

Order cancelled

Total breakdown right from the first tick. Setup invalidated.