Yes bank latest breakout
Since 4 January 2021, this stock is trading in the range of 18.65 and 13.95. But in today's trading session the stock has given a good upside breakout with higher volume. The volume is approximately 336m, which is very higher as compared to the previous candle. Now this stock will face resistance at 16.90 rupees price level, If this stock breaks this price level then this stock will give a very good upside target. But wait for price action, usually, when any stock gives a breakout, the stock will retest its breakout resistance, which is now acting as major support.
Yes bank support and resistance for upcoming trading session
Support : 15.50 / 13.95
Resistance : 16.90 / 18.60
Conclusion
If stock successfully retests the 16 rupees price level, today's breakout is valid. Otherwise, this is a false breakout. So wait for price action, don't jump into the trade because of just one reason, and the reason is, the stock has given 16% upside movement in today's trading session.
Yes bank support and resistance for upcoming trading session
Support : 15.50 / 13.95
Resistance : 16.90 / 18.60
Conclusion
If stock successfully retests the 16 rupees price level, today's breakout is valid. Otherwise, this is a false breakout. So wait for price action, don't jump into the trade because of just one reason, and the reason is, the stock has given 16% upside movement in today's trading session.
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