As per Technical analysis of Yes Bank (Yesbank) stock is in accumulation stage and its going on upward direction at the price of 90-95. Now the current price of the stock is Rs. 64.80. And also many good news are coming in this share. Please read more to check important levels of the stock:-
Yes Bank Technical Levels :-
Here is the detailed Technical analysis of Stock Yes Bank – (NSE symbol Name: YesBank). As per the daily chart this Share/Stock is previously running in downward channel from June 2019 to Oct 2019. On 10 Oct 2019 We had a price breakout in upward directions and after the breakout yesbank stock make high of 78.90. Now the stock is running in flag chart pattern. The Flag Chart Pattern and support and resistance levels suggests Rs. 60-61 is very critical support level for this stock. And also on 11 Nov 2019 Bullish Engulfing pattern seen in the daily chart.
As per Price Action We can Buy this stock at Current Market Price (CMP) for Target 95 with Stop loss of 56.
And also please check the analysis on given image. Currently stock price is accumulate on below line of the flag pattern and its very difficult to break.
As Fibonacci retracement maximum stocks are retrace from 61.8% level and Yesbank is already bounce back from 61.8% level. and currently price is traded between 61% to 78% levels and if its break this 78% level that is on Rs. 67.94 then its face 1.27% (Rs.92) level as a major resistance.
So also as per Fibonacci we can buy this share at CMP with stop loss Rs. 59.00 for the target of Rs. 92.00
Previously Yes Bank is many time uses Daily EMA 20 and 200 as a support and resistance. from previous 7 months price is use EMA 20 as a resistance and now the stock in traded above this Moving Average from 1 month and use two time as a support. Currently Daily EMA 20 showing Rs. 63.61 is a support level and EMA 200 is on Rs. 124.61 which major support for this stock as per Moving Average.
Yesbank Moving Averages is also favorable in buy side.
The volume analysis suggests a delivery based buying in the stock. An investor can take a long position only if the delivery based buying begins in the stock.
Yes Bank Stock Analysis 11/24/2019
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