TECHNICAL ANALYSIS OF YESBANK 10 FEB 2016

LAST RECOMMENDATION GIVEN ON 08 FEB 2016:

WIPRO IS ON FIREEEEEEEEEEEEEE !!!!!!!!!!!!

IN BEARISH MOMENTUM : WIPRO HIT FIRST TGT 540 MADE LOW OF 535
LOT SIZE: 1000

FUTURE TIP FOR 10 FEB 2016

FUTURE:

"BUY YESBANK  ABOVE 760 TGT 767/760 "

"SELL YESBANK BELOW 752 TGT 745/740 "

DAILY CHART FOR YESBANK:

MARKET SUMMARY OF 28 JAN 2016

The Sensex and Nifty slipped over 1% for the second consecutive session on account of weak cues from the global markets.  IT stocks led the decline after a disappointing quarterly forecast from Cognizant. Cognizant forecast its slowest quarterly revenue growth in 14 years.  Sensex ended with a loss of 266 points at 24,021. It had opened at 24,077, touched an intra-day high of 24,111 and low of 23,919. Nifty ended with a loss of 89 points at 7,298. It had opened at 7,304 hitting a high of 7,323 and low of 7,275.
Our anticipation was on the dot it did go up (not as much as we expected, though) and then during the last hour it surrendered all the gains it showed in the first couple of hours. Fresh short positions got built up through new open interest addition save the two strike prices of 7200 and 7100. The bulls liquidated a lot of put options that got liquidated during the last session. The market looks awfully weak, and we are heading for sub-7240 levels of the Nifty.