Read this before you buy Yes bank
The Exchange introduced trading in Index Options (also based on Nifty 50) on June 4, 2001
Yes bank fell 3.98% today. It is below 200 moving average on all time frames. It is making lower highs and lower low pattern on the daily chart. A breach of 30 levels will intensify the down move. Yes bank is the cheapest private sector bank right now. Recently we got a news update.
- “YES Bank to delay Dec-quarter results amid talks to raise capital”.
- “Yes Bank processed around 40% of UPI transactions in January.”
Let’s check out some charts to clear our thinking process.
Buying the cheapest private bank at these prices is a bargain, but charts tell a different story. For us any stock that is below its 200 moving average on multiple time frame is a risky bet and best avoided.