AbhishekHSinghCMT

YesBank- Is W-Wave@1259-The Villain for the Bank

Short
NSE:YESBANK   YES BANK
254 views
10
Well From the last update- As per the expectation- (b) looks to complete at 1305 & On Account of surgical operations on expiry day-29thSep2016- Yes Bank Melted from tops of 1305 to 1211- could be the start of down move & part of (c)-wave but its too premature to say anything at the moment.

It will likely be clear once it starts falling below swing low@1241. Will w-wave@1259 -an internal wave within (b)-wave be the villain for Yes Bank- Time will let us know.

What I will be looking in monday's session is the iv-th wave in (a)-wave@1256 & w-wave top@1259 & current rally to the zone 1256-1259 from 1211 lows all could form the supply zone- if it starts falling below 1241- Oh, I will be more happy- Then surely I will look for selling opportunities.

Regards,
Abhishek H. Singh, CMT


Best Regards,
Abhishek H. Singh, CMT
​Growth Director - TradingView India

YouTube Channel https://www.youtube.com/channel/UCYcnYveYBNLD-Qp54hvZogw

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Comments

what is the new update for the chart ?
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I need to check & shall update you
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I Dout it's a short opp at current level. Close below 1241 we could short but I believe this stock could go till 1320 till Tuesday.
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Could be- we never know-markets behave weird at times. Thanks for the update
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I had this setup in my list for this week.... Thanks for confirmation.... Waiting for the breakup
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