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.
Yesbank
Time to say YES to YES BANK?YES BANK: The stock has been in news after RJ’s activity in the stock. On the charts we can see a rounding bottom formation on going on the daily chart which is yet to breakout. The RSI though has changed its nature and has move above 60 and now bouncing on it. Once a breakout is registered the stock is expected to rally and move ahead to 95 and even 133 going ahead. A failed breakout will have a coiling effect and the stock may further start to plummet to the lows. . Our “ProRSI moblile trading application has been launched on Play Store and IOS, get high probability trading ideas in equities, futures and options. Download Now.
NIFTY INTRADAY for 6 NOV,19Note: Please note down the levels and trade on 3 or 5 mins timeframe. The results are substantially better.
My analysis results in formation of zones on chart which can be used to get proper entry at the begin of any intraday trend which usually is an intraday reversal in the direction of the symbol.
Any suggestions are most welcome in the comments.
Dont be a Bull, Dont be a Bear. Be a HARE.
BANKNIFTY Intraday for 5 NOV,19Note: Please note down the levels and trade on 3 or 5 mins timeframe. The results are substantially better.
My analysis results in formation of zones on chart which can be used to get proper entry at the begin of any intraday trend which usually is reversal in the direction of the symbol.
Any suggestions are most welcome in the comments.
Dont be a Bull, Dont be a Bear. Be a HARE .
YESBANK SHORT A NEW LOW MAYBE MADEYESBANK IN WEEKLY CHART IS OSCILLATING IN A TRENDLINE FIRST TARGET IS 30 AND NEW LOWER TARGET IS LOWER CHANNEL LINE 8 RS :) ALL DEPENDS ON RESULT NUMBERS ALSO DUE ON 1st november IF RESULTS ARE GOOD TARGET FOR LONG IS 97 RS. GOODLUCK STOPLOSS IS UPPER TRENDLINE 64 RS.
NOTE: JUST FOR EDUCATION NO ADVICE GIVEN
Yes Bank to make new all time lows.Yes Bank is very likely heading towards making a new all time low if the minor support of 45 is broken. We are seeing the same pattern in price action as we saw in August-September. It has not given a closing above the upper trend line since the start of this channel. We can only expect to see an upwards move if we see a closing above 57 on daily chart with heavy volumes and delivery. If you are long in Yes Bank then it's best to exit right away or when the red support line gets broken. Risky traders can place shorts at CMP with SL being a notch above upper trend line (closing basis). Safe traders can wait for the 45 support to get broken and enter shorts accordingly. I will update the post as we see changes in price action when market opens on Tuesday.
YESBANK, Advanced Trading Analysis, Buy Above 49 Target 53,57HOPING TO HELP ,
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