AbhishekHSinghCMT

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

Short
NSE:YESBANK   YES BANK
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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

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