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YES Bank The Big circle in yellow where i spotted with yellow colour suggests It is price aberration. It is 10% upmove from 1451. and small circle in very light color indicates its price reaction to result announcement.if you go back to the chart september 2016, you can see the exuberance. price has rallied from and around 800 to 1451, you can see the volume spike and simultaneous price spike from 1390 to 1450 nearly 4% jump, next candle also opned up at the same price, boom it started selling off to 1159 nearly 20%.later price whiph sawed between 1300 range and finally made a low of 1100. 26% fall. for this fall it took 3 months. al All technical people might have clled this as consolidation, bullish flag and so on. Made souble bottom , perfect. And flight took off to the destination of exuberance 1451. see the price action over there traders!. Everyone must have watched for the pin bars and many have thought that,s it it consolidated in the horizontal price range for only 2 weeks. price took off, DId you notice down, no significant volume. price boomed up and made an high of 1629. I want to ask you all one question what do you notice < Is it indicators , trendlines, they will confuse a day trader. He will be stuck srtuck for the hell. Wait and watch for the price action. We will soon be back first to the exburence level while the big players are still over there and anext to the level of flag consolidation. Decide before buying. I want to follow those big players who will push the price down. All the traders who bought at theprice breakout 1451 will try to cover their buy position and book their losses. I want to be Short in this stock, after getting confirmation. 1595 is my stop.
NSE:YESBANK
by nalinakshi
1