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Yes Bank - Rounding bottom completeYes bank completed rounding bottom on daily charts and entering consolidation period.
Last high was 1862.
It tried to cross 1862 in last 4 sessions consecutively but failed every time.
Lets make this consolidation fruitful.
Trade Setup
- Short Yesbank 1860 CE @ 31.50
- Short Yesbank 1800 PE @ 20
- Long Yesbank 1900 CE @ 17.5
Now Lets discuss consequences
Scenario 1 (Upmove) - If it decides to rise again your dont need to worry till it closes below 1895 which is ur break even point.if it rises more, U will lose a few pennies.
Scenario 2 (Consolidation) - If it closes between 1795-1865, You make a sweet 10K. Break even comes at 1895 on upside and 1767 at downside.
Scenario 3 (downmove) - If it decides to retraces again, u will be a happy man if it doesnt close below 1795. Going further, U wont loose a penny till it stays above 1767.If it falls more, u may be in trouble.
Yes bank-hourly price in rising trendYes Bank-hourly
the stock is trending up so are the moving averages
looking at the daily chart the stock is at a TL resistance
and 233 DEMA 1255 need to be crossed
once crossing the stock can reach the gap zone of 1275-1288 levels.
Also note the buying volume and the white candle right next to the
black candle showing the strength of bulls
Yes Bank on the edge can go either wayYes Bank has been trading in bearish channel, since it broke up trend with steep downside, it has formed a bearish flag pattern and the pattern has broken. it seems to be heading towards measured flag distance somewhere between 965-963 in near term, it is also on the edge, and may form breakout if market go green otherwise it will continue to its target, traders may enter short on retest of of resistance around 1198 and short with small stop loss with a target of 965 in near term.
Yes Bank Breakout Bearish Flag PatternYes Bank after a long up trend journey completing almost double the price in 9 months, broke at 1313.00 and breaching this level it traded side way to form bearish flag pattern. pattern confirmed after breakout. there may be a projected target of 1050.70 in near term.