Friday, 9 March 2018

WEEKLY TRADE IDEA ON YESBANK FOR 12-16 MAR 2018


sell YESBANK below 305 TGT 295/285 SL 320

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YESBANK is in the downtrend since January and is forming a downtrend pattern in short-term charts, it is likely to show correction with the breach of the support level of 305, where one may initiate the short position in it for the targets of 295,285. while stop loss can be placed at 320.   Primary trend of the YESBANK is bearish and if it will able to sustain above WEEKLY RESISTANCE POINT, then it will forming continuation pattern for uptrend; for now the stock is trading below its 22 and 55&200 days moving averages with the RSI of 40, one may expect the BUYING ABOVE 320 and targets of 324/329 in YESBANK.  if it manages to sustain above the immediate support level of 312 .first resistance level seen on charts at 320.
DAILY CHART FOR YESBANK

4 comments:

  1. GM MAM , This is such good and very useful information you share here. It is really very nice for the people to knowing daily updates in Indian stock market which useful them to getting ideas to invest money .THX

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