YESBANK trade ideas
Yes Bank Yes Bank -
Trading and not breaking strong Support zone ..
Positive - If stock respect Blue trendline and not break it , then Yes Bank try to break all above resistance
Negative - If stock break down blue trendline and then break strong support then it may fall upto Support -2 for sure
Target - 15.5 / 16
Free Bull Zone - Above 17
Strong Support - 14.5
Support 2 - 13-13.30
YESBANK Ascending triangleIn Daily Timeframe YESBANK can be seen forming Ascending triangle pattern.
It seems like it is breaking triangle resistance, we can see good move upwards from 17.30
Entry: Above 17.30
Target: T1 - 18.50
T2 - 19.50
Stop Loss: 15.85
Disclamer:
This analysis is for educational purpose only.
This is not a financial advice. Do your own research.
#NFA #DYOR
Should you buy Yes Bank?I recently overheard a couple of guys discussing investments and stocks at the gym, and one of them told the other to buy "Yes Bank" as it is apparently at a good valuation right now.
My take on it?
Maybe. Maybe it is available at a so called "discount". But it had also gone down from 400 to 5. Almost 98.5% down from all time highs. Which means it has a lot of investors who are trapped and are just waiting in a little bit of price appreciation and they WILL sell it away. Multiple resistance zones since it has fallen down SO MUCH.
Don't we have better stocks out there in the market, with better probability setups? Don't we have better stocks out there, with stronger momentum potential and very less resistances?
YES WE DO. Then why take a beaten down stock?
Beats me.