Recommendation is for Education purpose only
Stock Name : YES BANK | Date : 24 – Dec -2019 | Expiry – Jan Series | Recommendation : Education Purpose
Trading Style – Strict stop loss if spot goes below 49 , hold long till stock crosses 55 / 57 / 59 .
Recommendation : Buy Call 60 CE Jan 2020 at 2.95 Target 5.50 . Lot Size 8800 ( Estimated Gains – INR 22,000 Approx ) , Stop Loss ( If underlying cross below 49 and sustains for 10 mins or more book stop loss , Estimated loss ( INR 8800 {Considering option premium looses 1 Re } )
Underlying Data analysis :
- Healthy movement against the market since last 2 trading days.
- Over 3 crore shares of consistent delivery trades in last week ( though delivery percentage is low ~ 13%)
- Stock remained in positive zone of stiff 3 day resistance of 51.
- Some really good volume longs seen without any misleading bulk deals.
- Yes bank is highly volatile due to its announcement on the disclosure of the investor and the investment amount . Volatility will increase the option price .
- Yes bank Q3 results are due in Jan , stock can rally before the results as investors unwind position due to uncertainty .
- Technically the stock is showing continuous buy zones above 50.75 but is resistant around 52 , once 52 level is broken we can see 55 and upwards.
1 min chart analysis : Resistance at ~51 levels , once crosses can see 55+ . Stock recovered by fresh strong buying.
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