Friday, August 12, 2016

WEEKLY ANALYSIS OF YESBANK FOR 16-19 AUG


LAST WEELY RECOMMENDATION:
IN BULLISH MOMENTUM: ZEEL HIT TGT 520 MADE HIGH OF 518.35
LOT SIZE: 1300
DAILY TOTAL PROFIT: 47710 IN JUST TWO LOT
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FUTURE:
“BUY YESBANK ABOVE 1300 TGT 1315/1330”
“SELL YESBANK BELOW 1280 TGT 1260/1240”
DAILY CHART FOR YESBANK:
Primary trend of the stock is bullish and after giving breakout of its range bound movement, it is forming continuation pattern in short term charts, it is likely to continue the positive movement with the breakout of the pattern at the levels of 1300 ; as the stock is managing to trade above its 50 and 200 days moving averages with the RSI of 80, one may expect the targets of 1330  in the stock if it manages to sustain above the immediate support level of 1280. The stock is in bull run and is forming a reversal pattern also in short term charts, it is likely to show correction with the breach of the support level of 1280, where one may initiate the short position in it for the targets of 1250, while stop loss can be placed at 1300.Today, Sensex ended with a gain of 293 points at 28,152. The Sensex opened at 27,919, touched an intra-day high of 28,203 and low of 27,901.The Nifty closed with a gain of 80 points at 8,672. The Nifty opened at 8,605 hitting a high of 8,684 and low of 8,604.

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