YESBANK is stuck in a ascending triangle pattern. We have also presented related ideas of a rising channel and inverted head and shoulder pattern developing. A powerful breakout above 18.6 will break these 3 patterns.
YESBANK is stuck in a ascending channel for 6 months now. It has also tried to break the upside on 18.6 but failed to do so effectively. Bounce is expected from support. Also poised to break inverted H&S when crosses 18.6 with good volume.
"Delivery Idea 11-08-23
YESBANK (CMP: 17.25)
Buy Price: 17.25
SL Below: 16.6
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1. Buy or Sell at your own risk
2. Don't risk more than 1%-2% of your capital as stop loss
3. Position Size formula: - Stop Loss Amount/(Buy Price - Initial Stop Loss Price)
4. Sell on initial Stop Loss hit or RSI close below 40
5. Some other ways to sell stocks can be
a. 25% or 50% up in three weeks or less
b. Weekly tailing tops with high volume
Yes Bank has been a favourite stock for retail public. Due to it's penny price, it attracts a lot of retail attention.
I think it is a good time to invest in Yes Bank because of following reasons.
1. According to me, any retail person will think of Yes Bank and Idea, if he has given a choice to buy some large-cap stocks. Generally, businesses like...
Yes Bank bullish gartley + Elliott wave c complete,
Here problem is banking sentiments are negetive.
So , personally I'm watching
If yes Bank fall and enter in best buy zone ( 13.50/12)
Then I think consider,
# share learning
Learning for who read this message, I know no one 😅
*basically I observed
Strong large caps fundamental,bluechip company best buy zone...
in last 2 trading days, yes bank already moved 20% and reach a one-year-old resistance levels as you can see in chart.
now the question is that we should take entry in yes bank after such move.
in my opinion, I will take entry in yes bank once its close above 21
Can NSE:YESBANK be a Multi Bagger Stock ?
1. Stock Consolidating in the zone of Rs. 10 to 20 for almost 2.5 years
2. Resistance Breakout with Heavy Volume
3. Breakout with Rounded Bottom Formation indicating a reversal in the NSE:YESBANK
4. OBV showing a successful Breakout as OBV
5. EMA 20 Crosses Above EMA 50 in Weekly Time Frame
Today, Yes Bank broke the 28 week consolidation high of 15.05 with good volume. But ended closing marginally below at 14.70
Important to note, it crossed the important levels of 50, 100 and 200 day Moving average and closed above it. This can be a positive sign for the stock. However, the next few days are important to see how the price behaves.
Yes Bank saw a sharp upwards movement in price following the news that Private equity majors Carlyle and Advent have got the Reserve Bank of India's (RBI's) nod to own up to 9.99 per cent in Yes Bank. Go long above 20 rupees while that will then become your stop loss. I do feel the major issues of Yes Bank are behind it.
Yes Bank showing some positive signs for the stock investors.
The stock has given a return of 20% from the mid of JULY 22 and still looks good for a swing trade.
The positive signs for the swing trade.
1. Morning star pattern.
2. Trading above 20 ema and bullish MA crossover already there.
3. Volumes are high in daily candle.
4. Respected support levels.