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YES BANK - Time to go long

アップデート済

Good time to go long for a positional trade. SL below 325 on closing basis. Then just wait for a surge up. Targets could be 341/351/365/370 etc (futures prices July contract).

- Yes has been taking support at the 100 MA for the past 4-5 weeks.
- Stochastics look good.
- MACD (daily chart) showing signs of a bullish crossover
- Inverted Head & Shoulder formation still valid with price at the shoulder currently. Neckline is at about 370 (futures price July contract)

Ref to:

トレード稼働中

Long since 329 (futures July contract)

ノート

I have been looking closely at Yes Bank for about 2-3 weeks now and am building up long positions in the spot and futures markets.

ノート

Yes Bank is moving beautifully. Someone who went long the moment I posted would be making about 7000 profit in the futures market. My long positions in spot and futures are working out very well.

ノート

341 - first target. Still holding. Mine is a positional trade

ノート

SL for the next few days could be below 327.4 (July contract prices)
Targets: 351/358/365/370/380

ノート

Highest Open Interest addition is at 330 & 350/360 (spot prices). These could be the basis for setting SL & Targets for Monday 2nd July.

トレード稼働中

Targets for 2nd July:
T1 = 346
T2 = 351
T3 = 355

(Futures July Contract prices)

トレード稼働中

Holding long position

手動でトレードを終了しました

Closed @ 346 futures price. Will re-enter depending on price action

トレード稼働中

Long again @ 348.5 futures price

ノート

Target 1 & 2 achieved in futures. Holding long position

トレード終了: 利益確定目標に到達

Closed @ 258 (futures)

ノート

Entered long again in futures @ 357
T1= 367
T2= 373
T3= 380/383

トレード稼働中

T1 367 achieved in futures. Holding long position

トレード稼働中

Next targets (futures): 369 & 378-381

ノート

Highest Call OI: 380 (spot)
Highest Call OI Additions: 390

Highest Put OI: 340
Highest Put OI Additions: 350 followed by 360

These (spot prices) could form the basis of SL/Targets going forward

トレード稼働中

Target: 369 (futures) achieved. Holding long position

トレード稼働中

Yes Bank has broken the highs of Jan & Apr 2018

Target for today: 377 (July futures)

トレード稼働中

Reduced target to 372

トレード終了: 利益確定目標に到達

Closed @ 272 (July futures)
26k per lot on multiple lots. Good trade...

ノート

I never ride momentum. I prefer positional trading at the tops and bottoms of trends. In Yes Bank one rode almost 30 points since June 28th. That's about 50k per futures lot. And I trade in more than one lot if I am convinced about my analysis and the actual price action. Feels good to have caught the trend when it was still consolidating.

ノート

T3 380 achieved in July Futures

ノート

Yes Bank is in the overbought phase as suggested by candle structure, stochastics, RSI etc. Levels I am monitoring before going long again are:

372/363/356
(July Futures prices)

ノート

Yes Bank has formed a Double Top. Low risk short with SL above recent tops. Targets: 373/365/358

トレード稼働中

Shorted @ 384 (July Futures)

手動でトレードを終了しました

Closed SL hit at 386

ノート

Entered Long in July Futures

ノート

Yes Bank has climbed almost 60 points since I posted this analysis. In futures that would be worth just over Rs 1 lakh