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NSE: Yes Bank Out of Ascending triangle might move for 225+ .NSE: Yes Bank Out of Ascending triangle might move for 225+ .
Since Nov 29 till Jan 15, Stock was oscillating between 195 to 146
This has formed Ascending triangle like pattern
195 level was strong resistance that stock has crossed
Possible Long at current level with stop loss around 176 level and target of 225, 246 and above in sight
Time frame looks 4 to 5 weeks.
Breakout in Yes Bank Since 20th August 2018 Yes bank is in downtrend and fallen to 150 level from Rs 400 and continued to be in downtrend till 31st December 2018. Now it has given given a Breakout of its strong resistance line . Expecting it to cruise towards 247 level. One immediate resistance is 193.25 level and one should wait for prices to cross it. Moreover it has also given breakout on Bollinger Band . Stochastic RSI is also given buy signal along with Breakout. 247 could be the first target ( which is at 38.7 % Fibonacci retracement and if up move continues , then 277 and 307 can also be achieved.
Declaimer : This analysis is for education purpose only.
Buy Yes bank Above 193.2 TARGET NEAR 210- 220 SL 182Buy Yes bank Above 193.2 TARGET NEAR 210- 220 SL 182
Triangular formation in Yes BankA triangular pattern is visible in Yes Bank on daily chart, a breakout above 195 will lead to a blasting move till 225.
Morning Star Candle Stick Pattern in Yes BankOn Daily Chart , Yes Bank has formed Morning star candle stick pattern , Which is considered Bullish . Additionally Stochastic RSI indicator is in Over sold region and its signal line has generated Buy signal. Moreover it has crossed & closed above Rs 167 which has served as strong support during previous two fall. It is going to give a good up move if it is able to close 179 ( it would be breakout) .
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Declaimer : This analysis is for education purpose only. Consult your financial adviser, If you want to trade.
Shark Pattern in Yes Bank ?is Bearish shark pattern is under formation in Yes bank ? Leg XA & AB have been formed & Leg BC is under formation or formed . for valid shark pattern BC leg should be 1.13 to 1.61 of leg XA. Presently price has reversed from 1.13 extension ( i.e. Rs.180.2) . Shark pattern would be still valid if prices goes down up to 1.61 extension of XA ( i.e. Rs. 170.4). if prices goes below the 170, it will invalidate the pattern.
Moreover Point X, A , B & C are at the confluence of trend line. Formation of leg CD has already started or will start (if prices goes down to 170.4 & reverse thereafter).If valid Shark pattern is under formation, then prices can move up to 201 to 208 i.e. Point D.
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Declaimer : This analysis is for education purpose only. Consult your financial adviser, If you want to trade for CD leg or DE leg.
SHORT YES BANK @ 278 Expected to fall upto 213As per Fibonacci Chart's it shows YES Bank to fall after tocuhing @ 278 Level it may fall upto 220
Long : Yes Bank way to 350 . Breakout+Fibonacci+patternLong : Yes Bank way to 350 from CMP . 336 to 350, 14 rs spread
YES BANK: MARKET ANALYSIS (RETAIL)MARKET STATUS: RELAIL ANALYSIS
1. The market has been making a triangular pattern
2. when it breaks out on the long side then you can go long
note:
a) but I would not personally go long there, because that is where most of the people, go long too.
b) So the institutions and the banks too know that
c) So that might sell heavily there and trap the people who went long
3. So the best place to buy is to buy at the trendline on the downside which acts as the support
Yes Bank: Is it saying Yes or No?It should be noted that the stock is in a medium term bearish mode and the present move could only be a pullback for short term.
The bank retraced 50% of the last bull move and bounced back from there. The stock has been trying to move past the resisting falling trendline. Watch for a break above 1470-75 resistance zone for long. Aggressive trader can look for early entry on lower time frames. The potential target could be around 1500. For stops it all depends how you take the trade and how you manage it.
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Yes Bank - Dipping Down It is been observed on daily chart that the price action making Lower Lows and Lower Highs and reaching out to support levels at around 1075-1050 levels.
Target 1: 1075
Target 2: 1050
SL: 1195
Yes Bank: Is it only a pullback or a change in trend?Monthly witnessed a green engulfing candle in October after a great fall with a long lower wick which shows a strong downside rejection.
Weekly is at a minor resistance level, rejected it last week. There is a recent TL break also, which can possibly show a reversal. The view is mixed with more weight to towards the bearish side as the higher TF is weak and a nominal bearish RSI divergence.
Daily is getting choppier at the weekly resistance level. If the TL is broken again, we can see a good fall again in NSE:YESBANK . We will wait for EMA crossover before entering a short with SL of 73 and a 1:1.5 target.
