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YES BANK - Time to go long

Güncellendi

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:

İşlem aktif

Long since 329 (futures July contract)

Not

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.

Not

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.

Not

341 - first target. Still holding. Mine is a positional trade

Not

SL for the next few days could be below 327.4 (July contract prices)
Targets: 351/358/365/370/380

Not

Highest Open Interest addition is at 330 & 350/360 (spot prices). These could be the basis for setting SL & Targets for Monday 2nd July.

İşlem aktif

Targets for 2nd July:
T1 = 346
T2 = 351
T3 = 355

(Futures July Contract prices)

İşlem aktif

Holding long position

İşlem elle kapatılmış

Closed @ 346 futures price. Will re-enter depending on price action

İşlem aktif

Long again @ 348.5 futures price

Not

Target 1 & 2 achieved in futures. Holding long position

İşlem kapandı: hedefe ulaştı

Closed @ 258 (futures)

Not

Entered long again in futures @ 357
T1= 367
T2= 373
T3= 380/383

İşlem aktif

T1 367 achieved in futures. Holding long position

İşlem aktif

Next targets (futures): 369 & 378-381

Not

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

İşlem aktif

Target: 369 (futures) achieved. Holding long position

İşlem aktif

Yes Bank has broken the highs of Jan & Apr 2018

Target for today: 377 (July futures)

İşlem aktif

Reduced target to 372

İşlem kapandı: hedefe ulaştı

Closed @ 272 (July futures)
26k per lot on multiple lots. Good trade...

Not

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.

Not

T3 380 achieved in July Futures

Not

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)

Not

Yes Bank has formed a Double Top. Low risk short with SL above recent tops. Targets: 373/365/358

İşlem aktif

Shorted @ 384 (July Futures)

İşlem elle kapatılmış

Closed SL hit at 386

Not

Entered Long in July Futures

Not

Yes Bank has climbed almost 60 points since I posted this analysis. In futures that would be worth just over Rs 1 lakh

fcsa

Feragatname

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