AkhilSuryaFS

YES BANK | Bear Flag pattern

NSE:YESBANK   YES BANK
Bearish Flag pattern observed in YES BANK. Pattern looks to have confirmed suggesting a bearish outlook. Target depth of flag is around 40 points considering the price 172 on 10th May. If beginning of the fall @ 201.65 is considered, depth of flag will be around 70 points. With confirmation of pattern occurring at 147.7, Target of the pattern comes in at 108 taking 172 and at 78.5 taking 201.65.

Also note that 132.5 could offer a good support. A target (strictly technical) of 108/78.5 looks extremely bearish .