Yes Bank is ready for a pull back. We will wait for a 50% retracement and short at 384 for a target of 363 and a stop loss of 391.
Thanks,
Rasika Patel
Near it major trend out price looking forward for the next candle to be closing above the zone...
expecting a good trend in short run keep eye...
Note: understand the impotence of price action, Remember #gowithflow
#Yesbank weekly #bearish RSI #divergence from Sep 2016 till Sep 2017 seems to show early signs of getting resolved by passage of time.
A weekly close above 395 & #RSI hitting Overbought territory will be the perfect recipe for a wild rally in this stock.
Yes bank is making lower highs and higher lows any retracement or pullback should be used to short the points A,B,C ,F H,J K,M,N REPRESENT HIGHS AND THE POINTS D,E,G,I,L REPRESENT THE LOWS THE TREND TILL THE POINT G WAS BEARISH AND IT TURNED BULLISH AFTER THE POINT J WAS BROKEN ANT THE POINT L PROVIDED GREAT SUPPORT,NOW YES BANK HAS FAILED TO BREAK IT'S RECENT...
AS PER THE PREVIOUS TRADE CALL ON YESBANK HAS BROKEN
OUT OF THE DOUBLE BOTTOM FORMATION
AND HAS MANAGED TO GIVE A PERFECT PULLBACK
SIGNS ARE GOOD TO GO LONG SO WE ARE ENTERING INTO
A POSITIONAL TRADE FOR THE COMING TW0 WEEKS
FUTURES TRADE
AUGUST FUTURES
BUY@387
STOP@382.5
TARGET@397
LOT:1750
QTY:2
YESBANK ON THE VERGE OF BREAKING OUT OF DOUBLE BOTTOM PATTERN IN AN HOURLY CHART.
LET US CALCULATE THE RANGE OF THE PATTERN AND GO
LONG AFTER A BREAK-OUT
BREAK-OUT IS EXPECTED TILL 10:30
SAME PATTERN IS VISIBLE IN 30-MIN CHART
WILL SHOW BREAK-OUT EARLY
WAIT FOR THE CONFIRMATION!!
structure looks well , important base at 158-165 zone
upside can even be above 210 as it tested the levels multiple time . risk reward in favour on long side .
