YESBANK trade ideas
Yesbank NSE Indian Stock long bias at new demand zonesPrice fell short of retracing to Yesbank NSE Indian Stock weekly demand level around 319 and kept on rallying strongly in a big picture uptrend. New weekly demand level created higher around 351, price did retrace to this weekly demand imbalance, playing out nicely. Long bias at new areas of demand on Daily and Weekly timeframes
YES BANK INSIDE A DESCENDING TRIANGLE WAIT FOR A BREAKOUT!MARKET ANALYSIS: The market is trading inside a descending triangle pattern. Now if the market reaches the demand zone, we can expect a triangle breakout in the upside. Once the breakout happens the market will start its rally to the next possible major supply zone at the 1718.
Alternate scenario: If the market breaks the triangle support level, the trade will become invalid. So lets see what the market does in the coming days. Cheers!