YES BANK HAS FORMED DECENDING TRIANGLE ON WEEKLY CHART
SHORT THIS COUNTER AT 1215 WITH SL 1258, TGT 1045 (50% FIB) LEVEL.
THIS STOCK IS TRADING WITH IN BULLISH INSIDE BAR SHOW IN CHART.
IT HAS GIVEN WIPSO ON UPPPER AND DOWN SIDE.
ENJOY THIS TRADE.
Yes Bank has been trading in down trend in a channel, it has touched the channel resistance and approaching the channel support or crucial 50% fibo level around 1037 in near term, traders may enter short in yes bank with target of 1037. it may retest the resistance once again if market go green then short there.
It is been observed on the hourly chart that the price action fails to close above crucial resistance levels of 1220 and now it shall further dip down to cover previous gap of 1188.
Target: 1190
Stoploss: 1220
It is been observed on daily chart that the price action making Lower Lows and Lower Highs and reaching out to support levels at around 1075-1050 levels.
Target 1: 1075
Target 2: 1050
SL: 1195
Yes Bank has been trading in bearish channel, since it broke up trend with steep downside, it has formed a bearish flag pattern and the pattern has broken. it seems to be heading towards measured flag distance somewhere between 965-963 in near term, it is also on the edge, and may form breakout if market go green otherwise it will continue to its target, traders...
Yes Bank after a long up trend journey completing almost double the price in 9 months, broke at 1313.00 and breaching this level it traded side way to form bearish flag pattern. pattern confirmed after breakout. there may be a projected target of 1050.70 in near term.
