Update on #YESBANK The company has recently released its results and the results are outstanding with net profit rising 145 percent. I expect a strong rally with bullish momentum from here as we have filled the FVG between 17.5 to 19.5 and due to the strong financial result we could see serious bullish momentum take over. I had shared 3 entries at ₹23, ₹20 and ₹19.5 . All three of your entries should now be active.
These entries were perfectly timed with the result of yes bank and correction in nifty . I believe we will reach the three targets that I had mentioned within 4 to 5 years from here now.
Target prices ₹93, ₹120 and 280, check out my earlier post on Yes bank for more information about the company's fundamentals and technical.
Search in ideas for "yes bank"
Nothing to loose Say Yes for this BankNSE:YESBANK
Entry Rs 15.5 +
Target Hold to 2-3 years
SL Not Required
Time: 2-3 Years
CMP 15.65
Qty: 500 Shares
Yes bank has formed two times demand zone on weekly basis , this indicates strong support from the Banks/ Institutional buyers, worst has gone there is nothing loose. Buy and hold for the 2-3 years time frame.
Future Retail heartbreaking chart ***Future Retail at All time low around 3.75 ruppes.
*** It is falling from ATH 575 to 3.75 ( almost 99.5% fall)
*** It seems like an another yes bank
***As per price Action, when the price reach around negligiable , there is no hope for for comeback.
*** There are many investors (mostly retailers) stuck in this script ( some near the ATH, some in mid ).
*** RIP all those investors no....all those retail investor
*** Always set a stop loss for any either long term investment or trading.
*** Stop loss saves you from going to bankrupt (always) so that you can come back .
*** This is from my side , a different post (just for learning)
*** Hope you all will learn a new lesson ie. STOP LOSS
Happy Trading!
Rbl Bank LongRbl Bank is at significant Low.
Good to buy for Short to long term Trading for the Target of 182 / 300.
Need a strong weekly close above the Accumulation / Distribution zone shown in chart for higher targets for long term investment.
Stop-loss will be based on weekly close below 100., below that it can be another yes bank.
SBI - Box viewRecently in the news for having to take over Yes bank which will be a long drawn out bailout.
My PSU Bank pick which id like to be picking around 160 levels downwards until maybe 145.
Would buy this in a different way. Only 10% allocation around 160 (if the price ever reaches there) and more aggressive lower than that.
Has many assets which its owns like SBI life & SBI Card where it can raise money.
The mistrust with banks closing will also mean additional deposits which will help this bank in the long run. So look to be greedy if there is a deep cut towards the bottom of the box. (145-150 levels)
BANKNIFTY for 6th SeptemberPlease read this post along with my post on Nifty to get complete picture. Yesterday I wrote BNF pulled NIfty up and today it seemed BNF just didn't allow NIfty to go up. If one watches 5 min chart, this becomes clear. Forgot to write this piece of observation when I was writing about Nifty- If you see 5 top gainers you have Tata Motors, Coal India, ONGC, BPCL & YES Bank- shares that normally are accustomed to fall. And if you look at top 5 losers, you have HDFC, India Bull housing fin., ICICI Bank, TCS & Kotak Bank- solidly managed companies (except Ibull housing.) which you see among gainers! so what do you conclude- that whatever today's rise was it was due to some teporary injection and would soon fizzle out.
Option chain data on BNF is not very clear and conclusive. One thing is certain- at 27000 strike, both Call and Put writers are equally active. We might get some clarity tomorow.
On charts, BNF ended as a red candle with lowe high but higher low. This points to consolidation but since BNF rose very well yesterday, it can be understood that to day's fall has arrested the rise and can very well go down from here. The selling area is marked on chart.
All the best. Happy trading
ICICIBANK to bite the DustICICIBANK has completed a large Ending Diagonal on Weekly and Monthly charts. We should see a rapid decline in on ICICI Bank. The targets lie around 140! yes 140! Similar patterns are also seen on Bajaj Auto, Hero Honda, Yes Bank, Motilal Oswal Financial Services and we have already witnessed what happened. Expect a similar rapid decline on ICICIBANK too
Ewaves and Echannels from Rs 44 to the current priceAnalyzing the wave frm Rs 44 to present price of Rs 340
1. Since the lowest to highest price ratio is more than 3:1 log scale should be used to analyze any chart . But in case of yes bank log scale does not seem to work . Now think why ?
2. Taking the weekly chart.
3. The guideline of channelling will be explored deeper .
4. Remember that wave 1 and 2 formed in Yes Bank is only one type of formation . There are many kinds of wave 1 and 2 formation . We are exploring the one which happens in large cap stocks .
5. Base channel : Join the start of wave 1 and the end of wave 2 and make a parallel channel from the end of wave 1 . The top channel line, If the wave is normal it will give u the end of wave 4 !!!! Wave 4 will end at the top of the channel line or just briefly enter it . In this case wave A of the wave 4 triangle signals the price correction. Rest is time correction. Wave 4 is most probably a triangle Because of alteration and we normally find triangles in wave 4 position . Strategy buy Yes Bank every time it touches the upper channel line. Its the Red Channel
6. Every impulse wave must fall into an Elliott channel . If there are no extended waves then it should fall inside the base channel. It there is wave extension the base channel will be broken . The extended wave should also fall in a channel which is drawn by connecting waves 2 and 4 and drawning a parallel from the top of wave 1 or 3 to give the end of wave 5 . Your count is incorrect if channelling is not harmonious. See the black channel for 1 and 3 (extended) and Mangenta channel for the entire wave frm Rs 44.
LONG YES BANKThis is the price investors are not going to see in future, Buy as much as u can as this level,
1. Select a pivot and take a look at the same, technicals are giving a strong buy signal
2. Brokerage houses are very bullish, growth recovery is better than any other private banks (lesser NPAs and higher loan-to-growth figures)
3. The bad results were posted because of RBI (Basel 3 requirements lead to higher divergence - very short term)
Suggestion:
1. Long term target is 400+
2. Short term target is 360+, we must see 360+ before year end.
Breakouts: High Potential Returns It is been observed that some stocks mentioned below having great breakouts from pattern formation on daily chart indicating a high potential returns opportunity in the coming week. Buyers are in control and will take up prices quickly from here on.
Bharti Airtel: Target-380, 400 SL- 350
BEL: Target -1700 SL 1500
Yes Bank: T1- 1550 SL- 1440
HERO: T1- 3450 SL- 3250
Have a great trading week ahead,
Happy Holi,
Regards
Zaggle Prepaid Ocean Services LtdZaggle builds world-class financial solutions and products to manage the business expenses of corporates, SMEs, & Startups through automated and innovative workflows
Zaggle builds financial solutions and products to manage the business expenses of corporates, SMEs, & Startups through automated and innovative workflows.
Headquartered at Hyderabad , it is at an intersection of of SaaS (Software as a service) and Fintech. With 273+ employees, the company has 50 Mn+ co-branded prepaid cards.
Products
Zaggle Zoyer: accounts management services
Zaggle Save: Help employees save tax with Save’s flexible employee benefit plans
Zaggle Propel: all-in-one solution for employee rewards, and channel partner incentives.
Offers a combination of payment instruments, mobile application and API integrations through VISA cards, mobile app, partners and dashboard.
New Launch Q1FY24
In Q1FY24, Zaggle introduced corporate credit cards and vendor management platform – Zoyer. Also, their customer base expanded and cross-selling initiatives were taken up.
New Contracts
In Q1FY24, company entered into contract with BOB Financial Solutions Limited for implementing commercial card Onboarding & value-added services platform and launch of the Zaggle Yes Bank Corporate Credit Card, powered by Zaggle Zatix – a spend analytics platform that allows corporates to streamline
business and employee expenses, budget better and negotiate favorable supplier terms.
Corporate collaborations
The company has an esteemed list of corporates like Tata capital, Inox, NSDL, DBMS, Wockhardt, Yes Bank, Greenply etc.
Agreement with VISA
In Oct,23, company has entered into a growth agreement with VISA. This alliance is in support of the issuance of Forex CoBrand Cards. Visa will pay the launch bonus for supporting the launch of Forex Cobrand Cards. and will also pay incentives on Forex transactions basis spend commitments. Zaggle can leverage existing Corporate base
to sell forex cards to employees of the Corporate client, and it can be tightly coupled with Zaggle expense management solution.
The deal size is ~$20 Mn for next 5 years.