YESBANK SEEMS FACING RESISTANCE NEAR 1785-1810 RANGE SEEMS A GOOD SELLING ZONE IN BETWEEN THE RED LINE FOR A SHORT TERM NEAR THE BLUE LINE I.E AROUND 1655 AROUND 7% LEVELS
As per this wave count, Yesbank may touch 2000 once it crosses 1800 (Where it should be trading for bullish perspective). Stop loss below "C" level. (1690)
Looks like the consolidation at the 38.2 retracement level is about complete and the scrip is ready to take a shot at the previous high.
1850 should be a good short term target
Setup--- Flag Pattern
Entry--- Two Zones of interest
1) 1790-1800; or
2) 1810-1820
as per setup shown in the chart.
Targets-- 1840; 1850; 1860
Stop---- As per risk appetite
Hit like if this information is useful.
Trade safe
Regards
Bravetotrade
My previous post on the stock has a bullish bias which is still intact see >>
But a short term trade may also be a good idea for hedging or having some added advantage.
The Key Level for this post will be 1583-1585. If the stock has to reverse down, this would be the place. But if this level is breached by the bulls then we can see a rapid up move.
The mid...
Symmetric Triangle pattern on Yesbank and it may break either side.
Trade Long:
Buy above - 1570
Target - 1590
Stop loss - 1560
Trade Short:
Short below - 1548
Target - 1527
Stop loss - 1560
Please follow your best trading plan to trade this idea.
Hit like for better publications in future. Comments are welcomed.
Trade safe.
Best Regards
Bravetotrade
Yes Bank should be on radar at this stage. Stock is in a short term uptrend. It is not yet confirmed if a new wave has started from 1401 or not. But what can be observed is that the price has been gyrating in a channel and is approaching the supply zone. One can look for a bearish setup in this zone and go short.
Hit like if this analysis is informative....
Trendline broken and its indicating the price to move upside.
Trade:
Buy above - 1467
Target 1 - 1492
Target 2 - 1520
Stop Loss - 1437
Trailing Stop Loss - Keep change the stop loss on every target.
