LTTS from May 2021 lows formed a Bullish Harmonic Bat in July 2022. From there it has almost given a 62% retracement to now form a Bearish ABCD Pattern suggesting some consolidation to pullback till 3900 until it starts sustaining above 4400.
Not an area to go aggressive fresh long right now, more of a pullback for entry and then a likely rally for 5400 and more.
Hope this analysis is of help to both traders and investors
Comment
⋅
book part here @ 4075 and trail rest @ 4200 for 3900
Trade closed: target reached
⋅
Target done. closing this trade. Further weakness only if it fails to hold 3900-3925
@Maddy50, next major support 3800 if that also fails to hold then 3600. else above 3975 short covering will start
Maddy50
⋅
@Dinesh_C_Nagpal, thank you sir, i bought at 3950.. it went up by 7 %.. i didnt book profit. now that it has fallen.. got bit scared... anyways i am planning to hold for long term for 3 to 5 years... any thoughts on yes bank.. bought at 18 . now 21 ( just for swing trading).