Change in market structure.Get Long
seems like yes bank is also feeling left out in this post covid rally which is scaling market's to new high.
So most of the investor/swing trader must have this stock in their portfolio.And most of them would have even average it.None the less coming days might bring good news for the people holding this stock.
As after today's price action stock has clearly made two higher low's along with one higher high.price even managed to break down trend line from the top of December 20.
From here it's difficult to understand what could possibly go wrong in this stock as many big bank/institution have invested in this stock @10-12 rs price.
Although not much is going on in terms of fundamentals and even on technical front price do need to cross and close above 19.50 on monthly chart in order to get final confirmation regarding complete change of trend but then every big journey start's with small steps and hence one should look to allocate at least 3% of there portfolio in this stock as risk reward is good from current price.
look's good CMP of 15.05 for initiating long's with a stop-loss of 12.30(on daily closing basis) on the down side and target of 19.50 and 45.50.Seems little outrageous but it is possible considering the amount of fall that we have seen in the stock.
PS:could very well be trade of life time for someone like me who has missed so many opportunities in this market to multiply it's investment.
DISCLAIMER:There is no guarantee of profits or no exceptions from losses. The study provided is solely the personal views of my research. You are advised to rely on your judgment while investing/Trading decisions. Past performance is not an indicator of future returns. Investment is subject to market risks. Seek help of your financial advisors before investing/trading.
I may or may not trade this analysis
So most of the investor/swing trader must have this stock in their portfolio.And most of them would have even average it.None the less coming days might bring good news for the people holding this stock.
As after today's price action stock has clearly made two higher low's along with one higher high.price even managed to break down trend line from the top of December 20.
From here it's difficult to understand what could possibly go wrong in this stock as many big bank/institution have invested in this stock @10-12 rs price.
Although not much is going on in terms of fundamentals and even on technical front price do need to cross and close above 19.50 on monthly chart in order to get final confirmation regarding complete change of trend but then every big journey start's with small steps and hence one should look to allocate at least 3% of there portfolio in this stock as risk reward is good from current price.
look's good CMP of 15.05 for initiating long's with a stop-loss of 12.30(on daily closing basis) on the down side and target of 19.50 and 45.50.Seems little outrageous but it is possible considering the amount of fall that we have seen in the stock.
PS:could very well be trade of life time for someone like me who has missed so many opportunities in this market to multiply it's investment.
DISCLAIMER:There is no guarantee of profits or no exceptions from losses. The study provided is solely the personal views of my research. You are advised to rely on your judgment while investing/Trading decisions. Past performance is not an indicator of future returns. Investment is subject to market risks. Seek help of your financial advisors before investing/trading.
I may or may not trade this analysis
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