February 14, 2019

YESBANK technicals multiple timeframe

Daily charts:
- trend is down
- stock is trading in a range for past few weeks
- support around 160
- resistance around 240-250

- today stock was up 30% on good volumes
- similar high volumes were seen on 29-NOV when stock broke lows and recovered




Weekly charts:
- trend is down
- stock developing support around 160
- very strong resistance seen around 280 levels
- this level was earlier a top and was a double bottom buy
- bears may get active here



Monthly charts:
- trend is down
- we have a big bar reversal when 280 broke
- all intra month rallies have been sold into the last 3-4 months
- next support around 115



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