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YES BANK LTD

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YESBANK trade ideas

Yes Bank ... Fallen Angel: To bottom fish or not to bottom fishOnce upon a time, Yes Bank was in my portfolio too. Thankfully I exited the stock when it was above 300. The human mind naturally seeks to bottom fish such fallen angels. Here are some facts you have to consider. There is yet another Earnings report in 2 days. There was a massive selling volume of more than 10 times average for 2 continuous days and price closed near the lows. This can be a climatic selling. Though we have to wait for a few more days to confirm a bottom. A simple test for bottom formation can be to wait for at least three days where the low is not breached and preferably a small or big bounce is seen. A more rigorous test will be to wait for the candle high of the bottom to be taken out along with the 3 days rule. Given the rock bottom state of affairs, it is a laggard and hence will not be on my radar for longs and I will not go short without full hedge as the runway is very small and it can make a sharp u turn anytime. If I were a bottom fisher, I will wait for the price to bounce at least 20% from the new low(to be formed) before I even consider a testing quantity.
NSE:YESBANK
by Balakrishna_Shenoy
Yes Bank Ltd. - WEEKLY CHART!!Yes Bank Ltd. Anticipated weakness below 16 successfully visible in the chart. As of now the stock trading with complete negative trend and trying to test life time low. Technically 10.75 should consider as pivotal breakdown level, weakness below mentioned pivotal level can add fresh negative sense which can pressurized the price to test 7- 6 -5.65 on the own side. Their is no positive signal as of now, on the higher side 12-30 -15 - 19.30 (5MA) should consider as immediate strong resistances. FOR COMPLETE STOCK ANALYSIS AND FOLLOW-UP. CONTACT!!
NSE:YESBANK
by Pearl_Kaur
YES Bank Ltd. - WEEKKLYYES Bank Ltd. Price is clearly maintaining a down trend as per the weekly chart. there is no lucrative change found which can produce reversal. The same support and resistance will remain intact for the present situation. RSI is moving up from 40 level. ***TRADINGEDGE TIME-TREND INDICATOR IS BEARISH*** ***TE BANDS ARE IN RED ZONE*** Breakout & sustainable trading above 32 can increase short term bullish sentiment. Closing below 5 MA: 28 may increase short term weakness and breakdown below 27 can increase weakness further. KEEP AN EYE!! #tradingedge_academy #SMTA_institute
NSE:YESBANK
by Garey_Singh