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Yesbank

Yes Bank touches 61.8 Fib levels on long term Weekly chartsAlthough the recent fall in Yes Bank is purely due to the news and hence is fundamental, charts are showing the important Fibonacci levels Yes Bank has been touching on each of these falls in the past 3-4 weeks. If Yes Bank is to fall any further from here, then 78.6 levels (120) is on the cards, however, it is highly unlikely and most probably we would see a bounce back from the important 61.8 current fib levels to upto 260 & then some consolidation before going further up?
NSE:YESBANKLong
by traderparag
1
YES BANK - BUY ABOVE 290 FOR A HIGH PROBABILITY TRADEYesBank cmp 276 Target 400 plus Stop 265 Long suggested ABOVE 290. Logic: 1) Nice rounding bottom formation. 2) Shorter MA crossed 50/100/200 ma. 3) Bull candles accompanied by above average volumes and pullbacks accompanied with low volumes. 4) Long suggested above 287 which is the last key notable resistance zone. Ideally above 290 to give room for false breakouts. Disclaimer: I have directional long positions in yes bank.
NSE:YESBANKLong
by scorpiomanoj