YESBANK trade ideas
NR7 DAY FOR YES BANK1)Please find the attached chart for daily time frame.
2)divergence seen in hourly time frame.
3)some appreciable move expected from yes bank.
4)downward movement expected.
YES Bank - Addl $ 600 million to be raised!!In a late evening exchange filing on August 15, Yes Bank confirmed that it has sold around 231 million shares to Societe Generale (18.75 percent of 231 million), Key Square Master Fund (16.2 percent), BNP Paribas Arbitrage (14.43 percent), HDFC Balanced Advantage Fund (10.26 percent) and Key Square Master Fund II (5.88 percent), among other shares.
All the big fund houses have increased their stake in YES Bank.
This should make the second target 89 achievable in the coming days.
YES BANK - 78 IS IMPORTANT LVL!DOJI FORMED AT THE BOTTOM (WHICH IS ALSO WEEKLY SUPPORT).
EXPECTED PRICE TARGETS ARE MENTIONED IN THE CHART.
Yesbank support and resistance - strong support around 71.5Yesbank support and resistance - strong support around 71.5
YES BANK - OBSERVATIONS IN DIFFERENT TIME FRAMESYES BANK CHART OBSERVATIONS:
DAY - INVERTED H&S - GETTING SUPPORT AT 80 LVL. TREND LINE BROKEN & RE-ENTERED THE SQUEEZE ZONE.
WEEK - RANGE BETWEEN 79 & 81.
MONTH - DOUBLE BOTTOM AT 79 LVL. (THE CHART INDICATES A FALL TO 72-74 LVL).
YESBANK 12AugYesbank fell from the trendline and 25ema resistance. Now trading near support. Could be a possible long.
Further QIP news also backs the idea
Target: i. 87
ii. 92
Yes Bank Long Term ViewYes bank Is a buying Opportunity for Long term, Wait for the break out Since it shows some sign of Positive divergence. Once the trendline breaks for both rsi and price, we will go for buy. In simpler terms should close above 98.
Kindly refer the support and resistance line.
Disclaimer: For educational purpose only not recommending for trading. Analyze your self and trade accordingly.
Thank you
