YES BANK to 110-120

We can see Inverse Head and shoulder pattern on 1D chart with right shoulder in forming. If daily close above it would be quite bullish. However we can expect a drop to 53-59 for proper right shoulder finish.

Ladder long from 53-69 can be a 60-125% profit chance in mid term targeting 113-126-157.

The bat pattern formation in line with the inverse H&S pattern target of 113 at 260%

Kommentera:

Its pretty sad to see the YES BANK collapse. All the potential investors giving up and bad credit loans messed up the banking space. Fortunately SBI came up with a push up plan.

The 100% drop is definitely not where someone want to place their bet on. Fortunately i picked it up at 8.3 and still holding. Partially booked to cover the 3% loss i had it at 49 SL. I have already done my yearly profit target with YES BANK in its collapsing time.