Yes Bank Ltd on a daily chart stock price is making lower
low pattern, also it has closed below the 150 SMA, indicate stock price has
lost the support level. Through Retracement stock price has closed below 38.2%
of retracement, now its heading towards Rs.1038 level, which is the 50%
retracement, indicate fall will continue into the market. Momentum oscillator
MACD is heading towards southward direction, which add more bearishness for the
stock price
Trader can sell at Rs.
1115 for the target of Rs. 1038 levels, with Rs 1138 stop loss on closing
basis.
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