buy yesbank above 1620 tgt 1635/1645 sl 1600
SELL yesbank BELOW
1600 tgt 1580/1565 sl 1620
EVENT: YESBANK RESULT ON 19 APRIL 2016
YESBANK is in bull run and is forming a reversal pattern in
short term charts, it is likely to show correction with the breach of the
support level of 1600, where one may initiate the short position in it for the
targets of 1580,1565. while stop loss can be placed at 1620. Primary trend of the YESBANK is bullish and if
it will able to sustain above MONTHLY RESISTANCE
POINT, then it will forming continuation pattern ; as the stock is
managing to trade above its 22 and 55&200 days moving averages with the RSI
of 70, one may expect the BUYING ABOVE 1620 and targets of 1635/1645 in the
stock if it manages to sustain above the immediate support level of 1600.first
resistance level seen on charts at 1640.
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