Get started

Yesbank

Indusind bank- Trading ABCD patternLets have a look what we got for trading For Bulls --> We already mentioned 2 targets in our previous idea of the indusind bank for targets 1550/1650, first target was achieved and it fell from the same levels as it had major resistance of 200 and 100 Dma and kumo cloud, now the daily chart might not look great for bulls, but lets see how we might see this as a reversal point for bulls to go long. 1. Formed ABCD pattern 2. EW rule --> corrective wave doesn't breach start of wave 1 3. Fibonacci cluster retracement and extension at current level For Bears --> Since it fell from 200 and 100 DMA and after filling the gap at 1550 level, breaching 1399 may push the scrip towards 1375/1350, but bears got nothing to trade till it doesn't fall below 1348 levels, which is major support level. Trading Plan for bulls --> Keeping the fact that this scrip is trading below important moving averages indicating weakness, we have many other factors for bull to make a strong comeback as mentioned above. Trading/holding above 1400 levels for targets --> 1485/ 1555/ 1600/ 1655 SL - 1399 Here, trading above 1400 means different for individual trade, can use own strategy, an individual can also wait for whole trading session to see what candlestick pattern it makes. No trading if falls below 1399 Regards, Sharma Yogesh
NSE:INDUSINDBKLong
by yogi_sharma_elliottician
2
Nifty50 downfall over?????Nifty50 has got major support at current level or at yesterdays closing, holding below 10390 we might see fall towards 10336/25. But that looks difficult for nifty to fall towards that levels. If Nifty holds above 11415, it might start moving upside for the mentioned targets marked w\ green horizontal lines Targets are --> 10525--> 10625 --> 10700 --> 10780 SL --> 10390 abc correction of wxyxz seems over at the current levels and might start up move, the c of abc has given 61.8% extension, which is fair enough for the halt of down move and 78.6% is at 11336/320 levels which is another major support downside. If nifty fails to hold current level, and falls below 10390, still selling will be NOT recommended Regards, Sharma yogesh
NSE:NIFTYShort
by yogi_sharma_elliottician
7
Will bulls come back for bata?Will bulls come back at the mentioned support zone or will have to say tata to bata? Scrip has got major support zone at 1265 to 1280 zone, this zone can attract bulls for target 1324/1360/1390/1414 Sl will depend on how scrip moves from the zone, if fails to hold the zone, the setup will be failed and will look below to go long around 1216 levels, no shorting further. If holds above the support zone marked on the chart , go long for mentioned targets, Safe traders can wait for candlestick confirmation on daily chart. Regards, Sharma Yogesh
NSE:BATAINDIALong
by yogi_sharma_elliottician
YES BANK: Neither BUY nor SELL. Just Stay away from this stockNSE:YESBANK As per 5 year chart view, Yes bank has been pulled down from 400 level to 100 Level. Approx 75% of the price has decreased in past 1 year. Many people will be buying in dips in the hope that it will rise 1 day. But if the stock is fundamentally and technically good stock. Then, you can buy in dips. But Yes bank is weak in both fundamental and technical. I can see its next stopping in 80 zone which is mentioned in chart. If it Breaks 70 level. Then next level of rest will be 50. A Bank which 50% of the price is decreased in 1 and half months (20 Aug to 24 Sep 2018). Then think how much weak is that stock. @ Yes Bank holders think realistically and take decision. @ New Traders who are thinking to invest in this stock - Stay Away. Think, Research and analyse on your own before taking any decision :)
NSE:YESBANK
by Market_Psychiatrist