This is monthly chart of YESBANK on NSE (INDIA) which looks good for an investment. Opinion has been formed based on following observations :
1. A horizontal line has been drawn on the chart which acted as resistance during JAN 2015 to MARCH 2016 which turned into key support during recent fall in prise. Finally, the said resistance was broken in April 2016 and ...
In monthly, it seems a complete elliott wave cycle is complete, and stock has bottomed out.
in weekly, we can see that, round bottom is forming and fresh impulse already started here.
round bottom pattern tgt https://in.tradingview.com/x/Cu98yAKS/
so with a sl - 54, 1st tgt - 95, 2nd tgt - 151, long term tgt - 500.
In weekly, inv HnS pattern formed, then breakout with good volume, strong base is formed, and price reversal is complete.
also horizontal resistance broken with good volume,
1st tgt - 76, 2nd tgt - 90, sl - 53
in longer time frame, it was in long term downtrend, then inverted Head and Shoulder formed in weekly, breakout done with good volume, after a pullback, it reversed and moving up now.
sl - 5, tgt1 - 8.3, tgt2 - 9.3.
Also there is a good probability for round bottom, after the formation on Inv H&S(classic reversal pattern) at the ...
It is been observed that the price action is consolidating at the bottom in a broadening wedge pattern. It is at the make it or break it situation. It has good support at 310 levels and then 290 levels. Currently, at a look risk and high potential profit scenario. Now, today's closing shall matter a lot.
Target 1: 322
Target 2: 330