September 18, 2015
Yes Bank (NSE Cash)
SELL
` 804
` 772 - 776
` 710
5-10 sessions
728
700
785
800
Bearish
Strong resistance
zone of the Daily ’89
EMA’ as well as
88.6% retracement
Source: Falcon (Chart time - IST 09.16)
During the month of August, we witnessed a steep fall of more than 20 percent from the
level of `846. However, this stock gave a decent recovery after posting a low
`595 on
August 24, 2015.
Due to sharp fall, the weekly chart structure became negative and thus, a current up move
from the recent low can be construed as a relief rally or a pull back of the down move.
At this juncture, the stock has retraced it’s down move almost by 88.6%, which coincides
with the daily ’89 EMA’ placed at `770. Considering its near term down trend, we expect this
stock to face a resistance around its current trading zone.
Hence, we advise traders to sell this stock from current level to a bounce up to ` 776 for a
target of ` 710 in coming 5 to 10 trading sessions. The stop loss for this trade set up can be
kept at ` 804.
September 18, 2015
Yes Bank (NSE Cash)
Last 5 recommendations
Date
Stocks
Recom. Buying/Selling CMP Target 1 Target 2 Stop-loss
Status
Active
11-09-2015
Rel.Infra*
BUY
340 - 337
343
372
-
324
Active
09-09-2015
HPCL
BUY
784 - 780
786
824
-
761
Target Achieved
08-09-2015
LT
BUY
1523 - 1515
-
1605
-
1470
Target Achieved
08-09-2015
Yes Bank
BUY
660 - 657
-
702
-
635
Active
25-08-2015
TCS
BUY
2585 - 2570
2260
2710
-
2510
*Rel.Infra - Ex-dividend `8 per share