YESBANK Good Long OppoturnityEntry: 150 , Target : 280 ( 12 Months ), Stoploss : 145
What I see from Chart:
- RSI Divergence
- Wicks Indicating Strong Buying Action
- High Volume in Buy Zone
Valuation Analysis:
Trailing PE: 9.0, 5-year avg: 17.3 ( 48% discount )
Forward PE : 7.4, 5-year avg: 13.8 ( 46% discount )
Yesbank
Yes Bank has Rounding bottom break outYes Bank was in bearish phase from past few months but is recovering from bearish phase and entering in bullish phase and shown the rounding bottom breakout @269
Now we can buy it for long term target that is at 402 within 6 months that will be near to 50% returns from hear. Place Stop loss at 246.
YES BANK Moving in a ChannelYESBANK has been my favorite to trade for last 6 months since the fall from highs . Have been trading it in and out for many days . It is now moving in a parallel channel and resting on a support zone. Can go short at CMP or break of level .
Good candidate for short as long as it doesnt go over 238 levels .
YESBANK is reviving itselfAppointment of new CEO breathed fresh air in to the company. But, the latest news of RBI threatening action against Yes Bank leaves the lit candle in gusts of wind. The hope is bleak but I presume that Yes Bank will come out of this chaos one more time. So, taking a LONG position for 250+ by this month end. Fill that gap.
yes bank - recovery may take longWeekly chart - 5 years. Stock unlikely to break the band of 170-185. Now the next level to watch is 230-240 when the stock rises. It is difficult to cross once reached. If crosses the barrier band of 230-240, it will head towards 300 quickly. This may take 6 months to 1 year or more.
YES BANK a good sell on rise stockWe will look forward to an opportunity to go short once Yes Bank shows weakness at the sell zone marked.
PS: Wait for Yes Bank to reach the sell zone and we will go short only after it falls from the sell zone with SL above the swing high.
Only aggressive traders can go short as soon as Yes Bank moves into the sell zone.
Can Yes bank go past 250 ?As per my wave count - the correction in Yes bank is not yet over and can still go below 147 in the current year
Presently yes bank has gone upto 38 % of the downmove ?
200 ema is @ around 255
The question to be asked now is whether Yes bank the the strength to go above 250
There is some support @ 180 levels
The coming week is interesting ! Updates will follow