Yesbank
Yes Bank Channel Breakout It is been observed that the price action is been trending up in an upward channel. Today, the price actions opens gap down breaking the channel, indicating high selling pressure. Currently the price action retracing to fill gap where there will be a good opportunity to sell it again.
Target:1185
Stoploss: 1300
Risk Reward: 1:3
YesBank : Shorterm Entry analysisAs markets aren't any good, we can't go in with exact directional trades except few scrips. YesBank had completely racy move and never looked back, so the market price action hasn't provided any proper support resistance zone. But still you can trade as mentioned above but quite risky. The Double Bottom mentioned above I wont prefer bcos support is very near in YesBank, so if it comes into support zone and reverses then it will be ideal to Buy YesBank !


