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Yes Bank Price action – Trend Termination and Distribution phase

When PNB shares plunged due to scandal, it also affected other Banking sector shares including both public and Private Banks like a ”contagion effect”. Tumbling stock prices are creating opportunity for both Investors and traders alike. Long term investors can find good picks at cheaper value due to irrational behavior of Market prices. Likewise Traders can make use of present Volatility and initiate excellent trades on both directions depending upon stock’s relative strength.

Yes Bank Trend Termination and Distribution Phase

Yes Bank is such a Kind of a stock which is a good long-term pick, also an excellent trading opportunity for short-term traders. I have already written about Yes Bank Price action in previous contents, explained why it’s a good bet for Put option traders in January 2018, before the stock prices tumbled quite recently. Here’s the re-analysis, this time my price action perspective was on Weekly chart.

Based on the analysis we can see that uptrend has already terminated, Prices are behaving like a Distribution phase. Price action is indicating a bias towards sideways market and increased market volatility. So In coming days it’s better to do range trading with preference on Options. It’s a well-known fact that futures and equities are only favorable when stock prices are Directional. The thesis can be altered if we see sharp one directional movement in Yes Bank (If prices clearly break the support zone at 300.00 or resistance zone at 380.00.) Keep an eye on Developing Price action and trade according to volatility.


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About the Author:

Balaji is a Speculator, Investor and Trader (All in All!!!) and self published author. Trading in the Markets since decade, have seen more ups and downs along with institutional trader's lifestyle. He usually trades Nifty, Bank Nifty, Commodities, Futures cum Options around both Indian and global Markets. Balaji applies highly analytical and systematic Price Action strategies He blogs passionately about Trading strategies, Price Action Trading, Technical analysis, Macro events, Market setups, Financial and Economical topics. Apart from Trading and Blogging, Balaji also mentors aspiring Traders and Investors on becoming successful in highly competitive financial Markets.

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