ankit3000
Short

Yes Bank - Rounding bottom complete

BSE:YESBANK   YES BANK LTD
Yes bank completed rounding bottom on daily charts and entering consolidation period.
Last high was 1862.
It tried to cross 1862 in last 4 sessions consecutively but failed every time.
Lets make this consolidation fruitful.
Trade Setup
- Short Yesbank 1860 CE @ 31.50
- Short Yesbank 1800 PE @ 20
- Long Yesbank 1900 CE @ 17.5

Now Lets discuss consequences

Scenario 1 (Upmove) - If it decides to rise again your dont need to worry till it closes below 1895 which is ur break even point.if it rises more, U will lose a few pennies.

Scenario 2 (Consolidation) - If it closes between 1795-1865, You make a sweet 10K. Break even comes at 1895 on upside and 1767 at downside.

Scenario 3 (downmove) - If it decides to retraces again, u will be a happy man if it doesnt close below 1795. Going further, U wont loose a penny till it stays above 1767.If it falls more, u may be in trouble.
Comment: Effective contracts after stock split

372 CE Short @ 31.50 CMP 0.35
360 PE Short @ 20 CMP 3.55
380 CE Long @ 17.5 CMP 0.20

Close All Trades, Total Profit = 31.15+16.45-17.3 = 30.30

Comments

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