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YES BANK LTD

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YESBANK trade ideas

Should you buy Yes Bank?I recently overheard a couple of guys discussing investments and stocks at the gym, and one of them told the other to buy "Yes Bank" as it is apparently at a good valuation right now. My take on it? Maybe. Maybe it is available at a so called "discount". But it had also gone down from 400 to 5. Almost 98.5% down from all time highs. Which means it has a lot of investors who are trapped and are just waiting in a little bit of price appreciation and they WILL sell it away. Multiple resistance zones since it has fallen down SO MUCH. Don't we have better stocks out there in the market, with better probability setups? Don't we have better stocks out there, with stronger momentum potential and very less resistances? YES WE DO. Then why take a beaten down stock? Beats me.
NSE:YESBANK
by Amit_Thakkar_
2
Yes bank breakout for 20 septKeep yes bank on radar tomorrow. The stock is preparing for a huge breakout with beautiful targets in 2 hour time frame. Reasons for breakout - 1)Price is moving in a downward pennant traingle ,which is a good sign of breakout according to Elliot theory. (Downward pennant always shoots price upward breaking lowest trendline resistance for a upmove 2) Price is preparing to finish its 4th wave of correction and setting for a huge 5th wave rally I have shown possible targets according to Fibonacci numbers - Confirm breaking of trendline resistance of the pennant before proceeding for trade decision. Pennant should be broken either way in 2-3 candles
NSE:YESBANKLong
by DhirajGole8844
10