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YES BANK - Time to go long

已更新

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:

交易進行

Long since 329 (futures July contract)

註釋

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.

註釋

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.

註釋

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

註釋

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

註釋

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

交易進行

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

(Futures July Contract prices)

交易進行

Holding long position

手動結束交易

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

交易進行

Long again @ 348.5 futures price

註釋

Target 1 & 2 achieved in futures. Holding long position

交易結束：目標達成

Closed @ 258 (futures)

註釋

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

交易進行

T1 367 achieved in futures. Holding long position

交易進行

Next targets (futures): 369 & 378-381

註釋

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

交易進行

Target: 369 (futures) achieved. Holding long position

交易進行

Yes Bank has broken the highs of Jan & Apr 2018

Target for today: 377 (July futures)

交易進行

Reduced target to 372

交易結束：目標達成

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

註釋

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.

註釋

T3 380 achieved in July Futures

註釋

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)

註釋

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

交易進行

Shorted @ 384 (July Futures)

手動結束交易

Closed SL hit at 386

註釋

Entered Long in July Futures

註釋

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