A TECHNICAL VIEW ON YES BANK—7.9.2020 (Study done on request)

 

YES BANK

Open-14.20--High-14.45--Low-14.05—Close-14.25 on 4.9.2020

Support:13.90/11.10/8.10/5.65 (all time low).

Resistance: 15.60/16.40/17.05/20.25/25/26/29/30.45/32/34.05/36.55.

Critical Points moving up:--17.05---20.25---26----32.

Critical Points moving down:--13.90---11.10---8.10---5.65.

(Bold and underlined figures are most important)

It made an all time high of 404 on 20.8.2018 and then moved down steadily with intermittent up move and made a spike bottom of 5.65 on 6.3.2020 and then went up vertically and made a top of 87.30 on 18.3.2020(in just 7 days) and thereafter it steadily moved down and made a recent low of 11.10 on 27.7.2020 and since then it has been moving in a range of 17.05---11.10. Please note that an either side breakout will decide which way it is going to move break below 11.10 can drag it down and it may test its all time low of 5.65 or go beyond, similarly sustained break above 17.05 can take it higher. Moving up it could go to 20.25---26---29---32—34.05. It is expected to move in the range for now with a slight downward bias.

Technically it is not at all good at this point of time; therefore it may spend considerable time in this range before giving decisive direction. It is important to mention here that the stock lost more than 98% of its value from the top and still quoting at 96.48% discount from the top value, which speaks that it is a very low pedigree stock. Please note that investment in these types of stocks is just like a lottery ticket you may win or may not, however in the stock market this saying also works some time that every stock has a day. Therefore investment in this is not suggested in general but those who wish to take a chance can invest some percentage of their total investible fund but as a dead investment and with a hope that it may give return some day. No wonder it can work some time. It is strongly suggested to trail your stop losses (with the help of support levels mentioned above) in the profitable trade to avoid losses completely. DO NOT TRADE OR INVEST WITHOUT STOP LOSS.

NOTE: - It is the technical assessment of the stock as of now, the technical interpretation changes with the price movement and time, therefore investors are advised to look into fundamental, financial details of the company and last but not the least management perception for the future of the company before taking investment decision.

Disclaimer:-The view expressed here are solely of the author and he is not at all responsible in any way for the outcome of the trade you enter based on the above view.

 

Kindly note that make your cost your stop loss in favorable  trade and then trail it as the price move up/down to gain maximum profit and avoid losses. Use support and resistance levels as entry, exit, target and trailing stop loss points. DO NOT TRADE WITHOUT STOP LOSS.

 

Note: Price stated here are of spot market.

 

Contact me for strategic guidance to enter and exit trade.

 

Thanks 

Narendra Kumar Surana

suranank@gmail.com

Mobile—8240951127/9831313654.