SELL INDUSINDBANK For 200-130-68-27 (Parabolic CRASH)INDUSIND BANK Just the next failed Yes Bank in the making.
Long Term Investors advised CAUTION
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Bank Nifty is Neutral Bank Nifty is not showing any sign of Uptrend or Reversal, and it made a bullish candle just because of the rally in Yes Bank but now I think the momentum may be lost and a semi-downtrend can be expected.
Bank Nifty - LongNifty bank looked weaker in today session it closed between 20 EMA ( Lower Side) and 200 DMA ( Upper Side)
Stocks like SBIN (Bearish) , YES Bank ( Mildly Bearish) would continue to show some weakness.
Indus Ind bank ( At support ) , Axis Bank ( At Support ) , ICICI Bank ( Bounced from 100 DMA),
HDFC Bank ( Trading in a Range) should keep the bank nifty high.
Over all Bank nifty looks positive for next session.
Bank nifty can be bought at current levels 28725 with stop loss of 28621 ( 100 Point Stop Loss)
Reason why cash is KingNIFTY should close above 200 days moving average and that trend line in a week or two, else things will get pretty nasty real quick. I hope this thing recovers back, I really don’t want to console an army of bag holders, this guy he sits next to me in office is having a yes bank position from 150, another one holding 50% loss on escorts and they still tell me that they are willing to hold for 5 yrs, why? Some guy on internet said so or their mutual fund manager advised them.
NIFTY for 23rd AugustToday I felt like writing an obituary... of indian stock market! I wrote yesterday that it would fall even today based on data and indicators that were available, least did I know the fall would be so severe. And if you see the list of Nifty losers, the highest loser Yes Bank fell by 13.9%, 2nd, Vedanta by 7.8 % and 3rd, Indiabull housing by 6.8%. The High weightage stocks like Reliance fell by 1.9%, HDFC by 2.55% and HDFC Bank by 2.32%. See the severity of fall in Nifty stocks. On what basis, any buyer would muster any courage to buy anything, even for long term? Because nobody knows when and where it will stop. Let us see what we have for tomorrow.
1) FII & DII data: According to provisional figures, FIIs/FPIs were Net Sellers by 903 Crs and DIIs were Net Buyers by 1719 Crs. Then why did market fall so much. The absolute figures show, provisional data of course, FIIs sold shares worth 6248 Crs and DIIs bought shares worth 4967 Crs. And that explains why markets were deeply negative. Let's move to final data from NSDL: FIIs were Net sellers in Equity by 1044 Crs (in Secondary market sold 702 Crs & in primary markets sold 342 Crs), in index futures by 137 Crs and in stock futures by 328 Crs. All Net Sale figures! FIIs are still selling and if we relate to fall in bigwigs like Reliance, HDFC, etc., it seems to me now that they have started selling stocks they wanted to hold.People who read my post regularly would remember that for past few days I wrote that FIIs want to sell but are not finding stocks to sell and what they are holding they want to hold. Today that faith is shaken. It reflects on chart as well- I will talk about when I write charts section. Conclusion- Still no sign at all that fall will not continue and this should be wake up call for govt. For us traders- Short & Sell. Short and Sell if you want to make money.
2) Option chain data: Expiry 29th August; Actually there is good & impressive build up of OI on both sides considering that week ending 29th August will start tomorrow. Obviously, this will be watershed week. On PUT side, highest total OI (25.19 lakhs) is on 10500 strike and fresh highest Put writing (3.90 lakhs) is at 10700 strike. On 10600 strike there is Put unwinding and lesser OI. For tomorrow, I will treat 10700 as weak support because of highest writing and 2nd highest OI. On CALL side, highest total OI (45 lakhs) and highest Call writing (11.62 lakhs) both are at 11000 strike. That is too high and we will see Call unwinding on this strike and further call addition on lower strikes as focus will shift on this series tomorrow onwards. 2nd highest total OI is (20.68 lakhs) at 10900 but 2nd highest Call writing (9.64 lakhs) is at 10800 strike. Compare the figures of OI and writing on both sides. So for tomorrow, 10800 serves me as decent resistance since market is bearish.
3) Charts- If you see on daily chart, Nifty is showing red candles with increasing size of bodies with every session. Meaning the intensity of fall was bigger today than yesterday and yesterday's candle was bigger than day before yesterday! what that means is - Momentum is now increasing! And now I will tell you 3 big points which I observed which will further shock the readers.
(a) On weekly chart, today Nifty closed below below 61.8 % Fibonacci level. Traders do believe that if some stock/index is closing below 61.8% then trend changes. So we might be heading into larger bear phase now.
(b) On weekly chart too, It also dipped below weekly Demand Zone (10863-10729) which I wrote about yesterday, but didn't close below 10729.
(c) On daily chart, It also closed below 5th August low of 10782.6, from where Nifty reversed last time and started going up.
So now I will repeat what I said earlier- Momentum is increasing. There is no sign of any reversal. The shorting levels are given on chart.
All the best and happy trading.
a long term bet ?Bearish Cypher harmonic pattern in making on weekly chart of Yes Bank. leg XA, AB is completed and BC should be completed at 140 level which should acts as long term support. Now leg CD would be completed at when stock prices nears 350 level. downward movement would start thereafter.
Disclaimer : This is for education purpose only
YESBANK Time to say yes ! Good investment bet As discussed last week , when everybody saying out loud to short YES BANK, that's when the time is to introspect.
After sharp selling last week , accumulation can be seen this week on good volume and today has formed an engulfing pattern on 2015 support levels . Can buy above 173 and stop loss of 156 for target of 218 in coming 2 -3 months .
Follow me on @piyushrawtani for live trading updates and market related stuff = )
YESBANK - Bullish Bat - 1D TFBullish Bat pattern on Daily Chart of Yes Bank. BUY around 237-239 levels.
I just started learning Harmonics, don't know how to perfectly calculate Target(s) and SL, yet.
YESBANK is reviving itselfAppointment of new CEO breathed fresh air in to the company. But, the latest news of RBI threatening action against Yes Bank leaves the lit candle in gusts of wind. The hope is bleak but I presume that Yes Bank will come out of this chaos one more time. So, taking a LONG position for 250+ by this month end. Fill that gap.
Long Above 224 YesbankBUY
YES BANK ABOVE 224
Target - 225 -226 -227
Note - all levels are for educational purpose please analyse before taking position
*WE ARE NOT RESPONSIBLE FOR ANY LOSS & PROFIT*
Wolf Wave - Yes!If this is something called a Wolf Wave, then Yes Bank has to blast above 195, for tgt around 225
MARKET OUTLOOK FOR TUESDAY,MAY 08, 2018NSE:NIFTY
Monday’s session saw a buoyant start to the Week. The Markets saw a opening in lines with expectations and traded in a range in the first half of the session with modest gains. We saw strength coming in especially in the second half. The benchmark Index NIFTY50 got further fortified and ended the day with decent gains of 97.25 points or 0.92%.
The Markets have resumed its up move after a brief corrective spell after testing the immediate past high level of 10784. As we walk into Tuesday’s trade, we see the upbeat sentiment persisting. The Markets are likely to enjoy a positive start to the day. This being said, Markets still face chances of consolidation at higher levels and the levels of 10784 will remain important levels to watch for. Markets are still theoretically expected to face resistance at those levels if we speak of immediate short term.
The levels of 10765 and 10790 will act as immediate resistance area for the Markets. Supports come in at 10675 and 10630 zones.
The Relative Strength Index – RSI on the Daily Chart is 63.5806 and it remains neutral showing no divergence against the price. The Daily MACD stays bullish while trading above its signal line.
Pattern analysis reveals that after achieving a breakout from the broad rectangle zone, the NIFTY suffered a classical throwback and suffered a minor corrective decline. After a brief consolidation, NIFTY has resumed its up move. Key would be to see if it faces resistance once again at 10784 levels.
Overall, a modestly positive, but quiet start is expected in the trade on Tuesday. It is advised not to attempt to create shorts at higher levels. We will continue to see stock specific performance. The undercurrent remains very much buoyant. The levels of 10784 will be important to be watched as the Markets may face resistance at higher levels. Even if some resistance is found at higher levels, the Markets will see more consolidation once again in a given range than outright correction. We continue recommend making stock specific purchases with any decline that the Markets offer. While continuing to guard profits at higher levels, neutral to positive outlook is advised for the day.
STOCKS TO WATCH:
Fresh long positions were seen being added in FEDERAL BANK, NATIONAL ALUMINUM, EXIDE INDUSTRIES, JSW STEEL, ICICI BANK, RNAVAL, POWER GRID, PFC, HINDPETRO, YES BANK and TITAN.
i am happy to see yes bankgoing according to meHere also many ana, lysts were of the opinion to sell yes bank, i posted video on you tube also,
One should always see the price action. If it is above 50 day moving average one should not think of selling
YesBank: A Short Term TradeMy previous post on the stock has a bullish bias which is still intact see >>
But a short term trade may also be a good idea for hedging or having some added advantage.
The Key Level for this post will be 1583-1585. If the stock has to reverse down, this would be the place. But if this level is breached by the bulls then we can see a rapid up move.
The mid targets and final targets (both upside and downside) for the trade are shown on the chart. Manage you trades well.
Hit like if you think this information can be useful.
Trade safe, stay healthy.
Best Regards
Bravetotrade
Yes bank...... Day trade for 26 may 2017buy yes bank above 1472 for a target of 1492. stoploss at 1452
YES BANK.......BULLISH FLAG IN THE MAKING ???It has been observed that yes bank is making a bullish flag pattern on the hourly time frame. A Break above the flag on an hourly basis can take the stock upto 1640 levels & above that upto1680 levels. This is just my view....what do you think ?
YesBank- Is W-Wave@1259-The Villain for the BankWell 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
YESBANK (fibo )YESBANK
SL compulsory.
This Elliott Wave theory and understand how to effectively trade using this technique. Ralph Elliott discovered a very important pattern in the markets in early 20th century.
yes bank move with high volume with breakout still wait for retext .
targets and sl asper fibo .
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