YesBank- Is there a Possibility Of a Skyfall?
The Yes bank is currently moving sideways by taking the support of 50% retracement of Fibonacci. ADX is less than 25 , which indicates a fall, but +DI is above -DI means uptrend. I have applied the moving average, which shows the fall, too.
If the trend falls and crosses 17.60 , then the targets are following 17.30 - 17.00 - 16.70 - 15.40 . And if yes bank breaks the 50% level upside and breaks 19.00 , then the target will be 19.30 - 19.50 - 19.90 - 21.75 . Otherwise, it continues to move sideways.
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JULY MONTH ALL OUR PROFIT AND LOSS REPORTDATE STOCK BUY PRICE TARGET STOPLOSS OUR SELL LEVEL TOTAL POINT
3.7.20 SPANDANA SPHOOR 559 590 523 590 31
3.7.20 BLUE DART EXPRESS 2025 2061 1983 2061 36
6.7.20 VOLTAS 561 575 542 575 14
6.7.20 PVR 1044 1098 982 1098 54
6.7.20 GULF OIL 583 625 563 625 42
6.7.20 YES BANK 26.85 28.4 25.35 25.35 -1.5
7.7.20 RELAXO FOOTWARE 659 686 638 638 -21
7.7.20 PHONEIXMILLS 592 609 570 609 17
8.7.20 BAJAJ FIN 3300 3500 3500 200
9.7.20 BLUE DART EXPRESS 2014 2050 1980 1980 -34
14.7.20 HDFC 1814 1861 1757 1757 -57
16.7.20 BPCL 376 386 366 386 10
16.7.20 ZEE ENT 162 173 147 173 11
16.7.20 CERA SANITARY 2250 2325 2188 2325 75
16.7.20 MAS FIN 680 714 649 695 15
17.7.20 ICICI BANK 358 373 340 373 15
24.7.20 NESCO 460 550 550 90
Nifty Outlook for Tuesday, 11th August | 50x InvestmentsNifty - Technical Analysis:
Nifty formed a double top pattern in hourly charts and 10880 will now act as a strong support which, if breached, can lead to a further correction in the index.
On 15 minute charts, Nifty gave a failed breakout out of the 11100-11300 range and also the upward channel.
Market - Driving Factors:
All sectoral indices ended in the green today with Nifty Pharma leading the pack after it ended 5.37% in the green. The new US FDA directory which urges Americans to use locally manufactured medicines might not have a big impact on Indian Pharma companies.
Prestige Estates rose over 8% today on news that blackstone will acquire the commercial real estate assets of the company.
Yes Bank once again hit the upper circuit and ended 5% up. One would've made an 18% return in 2 weeks if they has subscribed to the Yes Bank FPO and held the shares till today.
Nifty - Outlook for Tuesday, 11th August:
Titan just announced its Q1 earnings and the company posted a loss of 270 crore rupees which was worse than what analysts had expected. This might weigh on the stock tomorrow.
ADX shows no strength of momentum on either side indicating that markets might consolidate for a while before giving a breakout in either direction. So one should avoid large directional bets on weekly options which expire this Thursday.
(Intraday) Descending Triangle Pattern on Axis Bank1. Axis Bank has Form Descending Triangle Pattern on an Hour Chart.
2. But , there is no supply zone till the level of 465. So, It may face rejection from the Trend Line .
3. Sell below 448 Target:442 , 439 ,437,427 , 402 SL: 454
4. First time , I am sharing you the fundamental analysis of the stock here on TradeView
Pros:
A. National Wide Spread.
B. P/E is the Second Highest in the industry after HDFC Bank .
Cons:
A. In last three Years Promoter has withdrawal there 13% stack
B. PEG Ratio is -5.75 ( Really Bad)
C. Return is the lowest is the industry
D. Debt ratio is 10.5 Second highest after Yes Bank 12.5 ( Very High Debts)
E. Dividend Payout is low
F. Axis Bank Declare Loss of about 1300 Crore in the last Quarter.
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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 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.
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.
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.
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Trade safe, stay healthy.
Best Regards
Bravetotrade