YES BANK - Time to go long

29 cze 2018

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:

29 cze 2018

Zlecenie aktywne

Long since 329 (futures July contract)

29 cze 2018

Uwaga

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.

29 cze 2018

Uwaga

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.

29 cze 2018

Uwaga

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

30 cze 2018

Uwaga

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

30 cze 2018

Uwaga

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

1 lip 2018

Zlecenie aktywne

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

(Futures July Contract prices)

2 lip 2018

Zlecenie aktywne

Holding long position

5 lip 2018

Zlecenie zamknięto ręcznie

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

5 lip 2018

Zlecenie aktywne

Long again @ 348.5 futures price

5 lip 2018

Uwaga

Target 1 & 2 achieved in futures. Holding long position

6 lip 2018

Transakcja zamknięta: osiągnięto wyznaczony cel

Closed @ 258 (futures)

9 lip 2018

Uwaga

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

9 lip 2018

Zlecenie aktywne

T1 367 achieved in futures. Holding long position

9 lip 2018

Zlecenie aktywne

Next targets (futures): 369 & 378-381

9 lip 2018

Uwaga

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

10 lip 2018

Zlecenie aktywne

Target: 369 (futures) achieved. Holding long position

10 lip 2018

Zlecenie aktywne

Yes Bank has broken the highs of Jan & Apr 2018

Target for today: 377 (July futures)

10 lip 2018

Zlecenie aktywne

Reduced target to 372

10 lip 2018

Transakcja zamknięta: osiągnięto wyznaczony cel

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

10 lip 2018

Uwaga

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.

12 lip 2018

Uwaga

T3 380 achieved in July Futures

16 lip 2018

Uwaga

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)

17 lip 2018

Uwaga

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

17 lip 2018

Zlecenie aktywne

Shorted @ 384 (July Futures)

19 lip 2018

Zlecenie zamknięto ręcznie

Closed SL hit at 386

19 lip 2018

Uwaga

Entered Long in July Futures

19 lip 2018

Uwaga

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