Yes Bank Ltd (YESBANK): Is it time to say "Yes" to the bank?Today, Yes Bank broke the 28 week consolidation high of 15.05 with good volume. But ended closing marginally below at 14.70
Important to note, it crossed the important levels of 50, 100 and 200 day Moving average and closed above it. This can be a positive sign for the stock. However, the next few days are important to see how the price behaves.
It might consolidate between 14.25 and 15, or else if the momentum continues, and the price action sees good volume above the level of 15, then we can see a level of 16 and 18.
The current 200day exponential moving average, at 13.85, can also also act as stop loss level.
However, strictly follow your stop loss at 5-8% or as per your risk management.
