YES BANK - Time to go long
Aggiornato
Good time to go long for a positional trade. SL below 325 on closing basis. Then just wait for a surge up. Targets could be 341/351/365/370 etc (futures prices July contract).
- Yes has been taking support at the 100 MA for the past 4-5 weeks.
- Stochastics look good.
- MACD (daily chart) showing signs of a bullish crossover
- Inverted Head & Shoulder formation still valid with price at the shoulder currently. Neckline is at about 370 (futures price July contract)
Ref to:
- Yes has been taking support at the 100 MA for the past 4-5 weeks.
- Stochastics look good.
- MACD (daily chart) showing signs of a bullish crossover
- Inverted Head & Shoulder formation still valid with price at the shoulder currently. Neckline is at about 370 (futures price July contract)
Ref to:
Trade attivo
Long since 329 (futures July contract)Nota
I have been looking closely at Yes Bank for about 2-3 weeks now and am building up long positions in the spot and futures markets.Nota
Yes Bank is moving beautifully. Someone who went long the moment I posted would be making about 7000 profit in the futures market. My long positions in spot and futures are working out very well.Nota
341 - first target. Still holding. Mine is a positional tradeNota
SL for the next few days could be below 327.4 (July contract prices)Targets: 351/358/365/370/380
Nota
Highest Open Interest addition is at 330 & 350/360 (spot prices). These could be the basis for setting SL & Targets for Monday 2nd July.Trade attivo
Targets for 2nd July:T1 = 346
T2 = 351
T3 = 355
(Futures July Contract prices)
Trade attivo
Holding long positionTrade chiuso manualmente
Closed @ 346 futures price. Will re-enter depending on price actionTrade attivo
Long again @ 348.5 futures priceNota
Target 1 & 2 achieved in futures. Holding long positionTrade chiuso: obiettivo raggiunto
Closed @ 258 (futures)Nota
Entered long again in futures @ 357T1= 367
T2= 373
T3= 380/383
Trade attivo
T1 367 achieved in futures. Holding long positionTrade attivo
Next targets (futures): 369 & 378-381Nota
Highest Call OI: 380 (spot)Highest Call OI Additions: 390
Highest Put OI: 340
Highest Put OI Additions: 350 followed by 360
These (spot prices) could form the basis of SL/Targets going forward
Trade attivo
Target: 369 (futures) achieved. Holding long positionTrade attivo
Yes Bank has broken the highs of Jan & Apr 2018Target for today: 377 (July futures)
Trade attivo
Reduced target to 372Trade chiuso: obiettivo raggiunto
Closed @ 272 (July futures)26k per lot on multiple lots. Good trade...
Nota
I never ride momentum. I prefer positional trading at the tops and bottoms of trends. In Yes Bank one rode almost 30 points since June 28th. That's about 50k per futures lot. And I trade in more than one lot if I am convinced about my analysis and the actual price action. Feels good to have caught the trend when it was still consolidating.Nota
T3 380 achieved in July FuturesNota
Yes Bank is in the overbought phase as suggested by candle structure, stochastics, RSI etc. Levels I am monitoring before going long again are:372/363/356
(July Futures prices)
Nota
Yes Bank has formed a Double Top. Low risk short with SL above recent tops. Targets: 373/365/358Trade attivo
Shorted @ 384 (July Futures)Trade chiuso manualmente
Closed SL hit at 386Nota
Entered Long in July FuturesNota
Yes Bank has climbed almost 60 points since I posted this analysis. In futures that would be worth just over Rs 1 lakh
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