TECHNICAL ANALYSIS-CANDLESTICK PATTERNS

BY- P. SAI PRATHYUSHA

1ST M.COM- BUSINESS
FINANCE
 TECHNICAL ANALYSIS

• TECHNICAL ANALYSIS IS A METHOD TO ANALYZE THE SECURITIES AND MAKE

INVESTMENT DECISIONS.
• TECHNICAL ANALYSIS DOSEN’T CARE ABOUT THE VALUE OF THE COMPANY OR A
COMMODITY. THE TECHNICIANS ATTEMPTS TO STUDY THE STOCK PRICE
MOVEMENTS OF THE SECURITIES MARKET. THEY UNDERSTAND THE EMOTIONS
IN THE MARKET BY UNDERSTANDING THE MARKET ITSELF.
• IN TECHNICAL ANALYSIS,

When the prices increase, the

investor should purchase
When the prices decrease,
the investor should sell.
 CANDLESTICKS AND ITS HISTORY
“Let the history navigate the
future”
IT WAS ORIGANALLY USED IN JAPAN DURING THE EDO- PERIOD AND HENCE IT IS ALSO CALLED
AS THE JAPANESE CANDLESTICK CHARTING.

 IT IS CALLED AS CANDLE STICK BECAUSE OF ITS SIMILARITY WITH THAT OF A CANDLE.

 IT WAS USED TO MONITOR THE AND FORECAST THE PRICE MOVEMENTS OF THE COUNTRY’S
MOSTLY USED COMMODITY, SUCH AS THE RICE WHICH WAS THE MOST TRADED AT THE DOJIMA
RICE EXCHANGE.

WIDELY BASED ON THE MILITARY TACTICS, THE JAPANESE TECHNIQUES HAVE PROVIDED TRADERS
WITH AN EDGE, LONG BEFORE THE BAR AND POINT AND FIGURE CHARTS, WHILE EVOLVING INTO
A COMPELLING STRATEGY FOR TODAY’S FAST AND VOLATILE MARKETS.
WHY USE CANDLESTICKS??
“He who is well prepared
has won half the battle”

VISUAL PRECISION
DYNAMICS TIMING

ENHANCES
TECHNICAL
ANALYSIS
TECHNIQUES
 THE JAPANESE CANDLESTICKS ARE
MORE CLEAR, VISUAL AND
PLEASING TO THE EYES, THAN THE
OTHER TOOLS, OFFERING ANYONE
FROM THE FIRST TIME USER TO THE
VISUAL SEASONED PROFESSIONAL, AN X-
DYNAMICS RAY PERSPECTIVE OF THE PRICE
MOVEMENTS AND EMOTIONAL
HEALTH OF THEIR CHOSEN
MARKET. THIS CAN BE USED TO
EVALUATE THE MARKET’S
PERSPECTION OF UNDERLINE
FUNDAMENTAL EVENTS.
 JAPANESE CANDLESTICKS ACT AS
A UNIQUE LEADING INDICATOR,
PRODUCING SUPERIOR TIMING
FOR ENTRY AND EXIT OF TRADES.
PRECISION REVERSAL SIGNALS CAN BE
TIMING IDENTIFIED WITHIN FEW SESSIONS,
OFFERING A CRITICAL EDGE OVER
THE OTHER TECHINQUES WHICH
OFTEN REQUIRE SEVERAL WEEKS.
THIS IS WHAT MAKES JAPANESE
CANDLESTICK TECHNIQUES A
MORE COMPELLING STARTEGYG
FOR TODAY’S FAST AND
VOLATILE MARKETS.
ENHANCES
TECHNICAL JAPANESE CANDLESTICKS
COMPLEMENTS MOST OTHER
ANALYSIS
TECHNICAL ANALYSIS TECHNIQUES
TECHNIQUE THAT WE MAY BE USING, SUCH AS THE
S TRADITIONAL TREND, PATTERN AND
MOMENTUM ANALYSIS.
CANDLESTICK CONSTRUCTION
“Simple in design, powerful
in application”
 CANDLESTICK CONSTRUCTION
A BULLISH OR WHITE CANDLESTICK:
IT IMPLIES THAT THE CLOSING PRICE OF THE SESSION WAS HIGHER THAN THE OPENING PRICE.
THIS MEANS THAT BUYERS MAINTAINED CONTROL AND PRICES SPENT MORE TIME PUSHING
HIGHER.
A BEARISH OR BLACK CANDLESTICK:
IT IMPLIES THAT THE OPENING PRICE OF THE SESSION WAS HIGHER THAN THE CLOSING PRICE.
THIS MEANS THAT SELLERS MAINTAINED CONTROL AND PRICES SPENT MORE TIME PUSHING
LOWER.
REAL BODY:
THE RECTANGLE SECTION OF THE CANDLESTICK, CALLED THE „REAL BODY‟, IS THE RANGE
BETWEEN THE SESSION’S OPEN AND CLOSE. THE „REAL BODY‟ REPRESENTS OVERALL
COMMITMENT IN THE MARKET AND WHAT JAPANESE CHARTISTS DESCRIBE AS „THE ESSENCE
OF MARKET PSYCHOLOGY‟.
SHADOWS:
THE THIN LINES EXTENDING OUT FROM BULLISH/WHITE OR BEARISH/BLACK CANDLESTICK
„REAL BODIES‟, ARE CALLED „SHADOWS‟ (UPPER/LOWER) AND HIGHLIGHT THE PRICE EXTREMES
FOR THE SESSION. THE „SHADOWS‟ ALSO TELL US WHERE MOMENTUM WAS OFFSET
 TYPES OF CANDLESTICKS

DOJI
SIGNAL:

INDECISION, VULNERABILITY, UNCERTAINTY, ALL OF WHICH CAN BE CONSIDERED NEUTRAL OR

LEAD TO A REVERSAL.

CRITERIA:

THE OPEN AND CLOSE ARE AT THE SAME LEVEL OR NEAR.

IMPLICATION:

PARAMOUNT IN IDENTIFYING MARKET TOPS AS IT IS A SIGN OF AN AMBIVALENT MARKET, WHERE

BUYERS AND SELLERS ARE IN BALANCE. LESS IMPLICATION WHEN LOCATED IN OSCILLATING
MARKETS WHERE IT IS SIMPLY CONFIRMING A TRENDLESS ENVIRONMENT.
 TYPES OF CANDLESTICKS

HAMMER
SIGNAL:
BULLISH REVERSAL WHEN FOUND IN A DOWNTREND.
CRITERIA:
MUST BE LOCATED IN A DOWNTREND.
LOWER SHADOW TENDS TO BE AT LEAST TWICE THE LENGTH OF THE
REAL BODY WHICH SHOULD BE AT THE TOP OF CANDLE.
IMPLICATION:
MARKET IS “HAMMERING OUT” A BOTTOM. THE LOWER SHADOW
INDICATES DOWNSIDE REJECTION OF A PRICE LEVEL.
 TYPES OF CANDLESTICKS
SHOOTING STAR
SIGNAL:
BEARISH REVERSAL.
CRITERIA:
MUST BE LOCATED WITHIN AN UPTREND.
UPPER SHADOW TENDS TO BE AT LEAST TWICE THE LENGTH OF THE REAL
BODY WHICH SHOULD BE AT THE BOTTOM OF CANDLE.
IMPLICATION:
SYMBOLIZES “TROUBLE OVERHEAD”. THE UPPER SHADOW INDICATES UPSIDE
REJECTION OF A PRICE LEVEL. IDEALLY GAPS AWAY FROM PRIOR REAL BODY
BUT THIS IS NOT NECESSARY.
 TYPES OF CANDLESTICKS

HANGING MAN
SIGNAL:
BEARISH REVERSAL.
CRITERIA:
MUST BE LOCATED IN AN UPTREND.
LOWER SHADOW TENDS TO BE AT LEAST TWICE THE LENGTH OF THE REAL BODY WHICH
SHOULD BE AT THE TOP OF CANDLE.
FOLLOWING SESSION NEEDS TO CONFIRM WITH A BEARISH CANDLE FALLING WITHIN 50% OF
INITIAL UPTREND SESSION.
IMPLICATION:
UPTREND WAS DOMINANT FORCE, ENTICING A GAP HIGHER. BUT SELLERS TAKE CONTROL
AND POST AN INTRADAY LOW. THIS IS THEN REVERSED HIGHER BY BUYERS BEFORE THE
END OF TRADING. A BEARISH CANDLE ON THE FOLLOWING SESSION CONFIRMS REVERSAL.
 TYPES OF CANDLESTICKS

HIGH PRICE GAPPING PLAY/LOW PRICE GAPPING

PLAY
SIGNAL:
BULLISH CONTINUATION WHEN GAPS UP.
BEARISH CONTINUATION WHEN GAPS DOWN.
CRITERIA:
PRICE ACTION IS IN A PERIOD OF CONGESTION NEAR ITS HIGHS (HIGH PRICE GAPPING) OR LOWS
(LOW PRICE GAPPING), STABILIZING THE PREVAILING TREND, THEN GAPS FURTHER IN THE
DIRECTION OF THE PREVAILING TREND.
IMPLICATION:
THE GAP IS DEFINED AS THE MOVE OUT EITHER UP OR DOWN, CONTINUING THE DIRECTION OF
THE TREND. IT IS THE STRENGTH NECESSARY TO BREAK BEYOND THE ESTABLISHED PERIOD OF
RESTRAINT
 TYPES OF CANDLESTICKS
BELT HOLD LINE
SIGNAL:
BULLISH BELT HOLD OPENS ON LOW AND CLOSES AT OR NEAR HIGH OF CANDLE AFTER A
PRECEDING DOWNTREND.
BEARISH BELT HOLD OPENS ON HIGH AND CLOSES AT OR NEAR LOW OF CANDLE AFTER A
PRECEDING UPTREND.
CRITERIA:
THE BODY MUST BE THE OPPOSITE COLOR OF THE PREVAILING TREND.
THERE MUST BE A SIGNIFICANT GAP, NO SHADOW AT OPEN AND A MARKEDLY LONG BODY.
IMPLICATION:
YORIKIRI IS A JAPANESE SUMO WRESTLING TERM MEANING “PUSH YOUR OPPONENT OUT OF
THE RING WHILE HOLDING ON TO HIS BELT.” MOST IMPORTANT IF THEY ARE PRECEDED BY A
PREVAILING TREND AND CONFIRM RESISTANCE ON THE NEXT DAY’S CLOSE.
 TYPES OF CANDLESTICKS
ENGULFING
SIGNAL:
BEARISH REVERSAL WHEN FOUND IN AN UPTREND.
BULLISH REVERSAL WHEN FOUND IN A DOWNTREND.
CRITERIA:
MUST BE LOCATED WITHIN RESPECTIVE TREND (SEE ABOVE).
SECOND REAL BODY (OPEN & CLOSE) ENGULFS PRIOR SESSION’S REAL BODY, NOT NECESSARILY
THE SHADOW.
SECOND CANDLE MUST BE WHITE FOR BULLISH ENGULFING AND BLACK FOR BEARISH ENGULFING.
IMPLICATION:
THE ENGULFING INDICATES A TRANSITION OF POWER BETWEEN BUYERS AND SELLERS, WITH THE
WINNER OVERWHELMS THE PREVIOUS TREND.
 TYPES OF CANDLESTICKS
MORNING STAR
SIGNAL:
BULLISH REVERSAL.
CRITERIA:
MUST BE LOCATED WITHIN A DOWNTREND.
LONG BEARISH CANDLE APPEARS AT THE END OF A DOWNTREND. THE FOLLOWING SESSION
HAS A SMALL RANGE AND TENDS TO GAP LOWER. THIS IS FOLLOWED BY A BULLISH LONG
CANDLE WHICH RALLIES MORE THAN 50% OF THE RECENT BEARISH CANDLE.
IMPLICATION:
DOWNTREND WAS DOMINANT FORCE, ENTICING PRICES TO GAP LOWER. HOWEVER, THE
FOLLOWING SMALL SESSION SYMBOLIZES A POTENTIAL CHANGE IN SENTIMENT. IN
ASTROLOGY THE MORNING STAR PLANET “MERCURY” APPEARS BEFORE SUNRISE”.
ULTIMATELY, THE THIRD SESSION CONFIRMS AND PUSHES HIGHER.
 TYPES OF CANDLESTICKS
EVENING STAR
SIGNAL:
BEARISH REVERSAL SIGNAL WHEN FOUND IN AN UPTREND.
CRITERIA:
MUST BE LOCATED WITHIN AN UPTREND.
LONG BULLISH CANDLE EVIDENT AT END OF UPTREND. THE FOLLOWING SESSION HAS A
SMALL RANGE AND TENDS TO GAP HIGHER. THIS IS FOLLOWED BY A BEARISH LONG CANDLE
WHICH FALLS MORE THAN 50% WITHIN THE RECENT BULLISH CANDLE.
IMPLICATION:
UPTREND WAS DOMINANT FORCE, ENTICING PRICES TO GAP HIGHER. HOWEVER, THE
FOLLOWING SMALL SESSION SYMBOLIZES A POTENTIAL CHANGE IN SENTIMENT. IN
ASTROLOGY THE EVENING STAR PLANET “VENUS” APPEARS BEFORE NIGHT. ULTIMATELY,
THE THIRD SESSION CONFIRMS AND PUSHES LOWER.
 TYPES OF CANDLESTICKS
THREE WHITE SOLDIERS
SIGNAL:
BULLISH PATTERN SIGNALING STRENGTH AFTER A DOWN TREND OR RANGE-BOUND
MARKET.
CRITERIA:
THREE CONSECUTIVE SESSIONS OF LONG WHITE CANDLESTICKS, EACH CLOSING AT OR
NEAR PREVIOUS HIGH. EACH CANDLE BEGINS AT OR NEAR THE RANGE OF THE BODY OF
THE PREVIOUS.
IMPLICATION:
THE THREE WHITE SOLDIERS IMPLY A GRADUAL AND STEADY RISE; A HEALTHY MARKET
RISE. IF CANDLES ARE OVEREXTENDED, ONE SHOULD BE CAUTIOUS OF OVERBOUGHT
CONDITIONS. IF SECOND OR THIRD SHOWS WEAKNESS, POSSIBLE ADVANCE BLOCK
PATTERN.
 TYPES OF CANDLESTICKS
THREE BLACK CROWS
SIGNAL:

BEARISH PATTERN INDICATIVE OF MARKET CORRECTION.

CRITERIA:

THREE CONSECUTIVE SESSIONS OF LONG BLACK CANDLESTICKS, EACH CLOSING LOWER THAN
THE PREVIOUS, EACH AT OR NEAR THEIR LOWS. CONSECUTIVE CANDLES BEGIN WITHIN THE
RANGE OF THE BODY OF THE PREVIOUS CANDLE.

IMPLICATION:

THE THREE BLACK CROWS PATTERN INDICATES A TURN TO STRONG SELLING PRESSURE. THE
SHADOWS ARE GENERALLY SMALL AND THE BODIES LONG. PATTERN BEST SUITED FOR LONGER
TERM TRADERS WHO WILL WATCH FOR THE COMPLETION OF ALL THREE TO TAKE CONFIRMATION
OF MARKET CORRECTION.
 TYPES OF CANDLESTICKS

ABANDONED BABY
SIGNAL:
BULLISH REVERSAL WHEN FOUND IN A DOWNTREND
BEARISH REVERSAL WHEN FOUND IN AN UPTREND.
CRITERIA:
MUST BE LOCATED WITHIN THEIR RESPECTIVE TRENDS.
SECOND SESSION IS A DOJI WHICH GAPS IN THE DIRECTION OF THE TREND, FOLLOWED BY A
THIRD SESSION WHICH AGAIN GAPS BUT IN THE OPPOSITE DIRECTION OF THE FIRST SESSION.
IMPLICATION:
TREND STRENGTH GAPS IN ONE LAST ATTEMPT, THEN A SWIFT CHANGE IN MOMENTUM PULLS
PRICE IN THE OPPOSING DIRECTION.
 ADVANTAGES OF CANDLESTICK PATTERNS

 VERY EASY VISUAL METHOD

 CONVERGENCE WITH THE TECHNICAL AND CLUSTER ANALYSIS

 AVAILABLE IN ALL TRADING PLATFORMS.

DISADVANTAGES OF CANDLESTICK PATTERNS

 IT IS NECESSARY TO WAIT FOR CONFIRMATION.

IT IS DIFFICULT TO USE THEM ON SMALL TIMEFRAMES DU TO THE ALGORITHMIC

TRADING.

A BIG NUMBER OF POSSIBLE CANDLESTICK PATTERNS AND THEIR

COMBINATIONS.

DIFFERENT INTERPRETATIONS OF SIMILAR PATTERNS.

 IDENTIFICATION OF VARIOUS TYPES OF CANDLESTICKS

BEARISH
ENGULFING

THREE BLACK
CROWS SHOOTING STAR

DOJI

HAMMER BULLISH
ENGULFING THREE WHITE
SOLDIERS

INVERTE
HANGIN
DHAMM
G MAN
ER
 YES BANK
• YES BANK WAS INCORPORATED ON NOVEMBER 21ST , 2013.
• THE BANK OBTAINED CERTIFICATE OF COMMENCEMENT OF BUSINESS
ON JANUARY 21 2004. IN THE YEAR 2005 THEY FORAYED INTO RETAIL
BANKING WITH LAUNCH OF INTERNATIONAL GOLD AND SILVER DEBIT
CARD IN PARTNERSHIP WITH MASTERCARD INTERNATIONAL .
• YES BANK HAS BEEN RECOGNIZED AMONGST THE TOP AND
FASTEST GROWING BANKS IN VARIOUS INDIAN BANKING LEAGUE
TABLES BY PRESTIGIOUS MEDIA HOUSES AND GLOBAL ADVISORY
FIRMS
• THE BANK HAS RECEIVED SEVERAL NATIONAL AND
INTERNATIONAL HONOURS FOR OUR VARIOUS BUSINESSES
INCLUDING CORPORATE INVESTMENT BANKING, TREASURY,
TRANSACTION BANKING, AND SUSTAINABLE PRACTICES THROUGH
RESPONSIBLE BANKING.
 GROWTH OF YES BANK
YES BANK, IS A HIGH QUALITY, CUSTOMER CENTRIC AND SERVICE DRIVEN BANK

YES BANK HAS GROWN INTO A ‘FULL SERVICE COMMERCIAL BANK’ PROVIDING A
COMPLETE RANGE OF PRODUCTS, SERVICES AND TECHNOLOGY DRIVEN DIGITAL
OFFERINGS, CATERING TO CORPORATE, MSME & RETAIL CUSTOMERS.

YES BANK OPERATES ITS INVESTMENT BANKING, MERCHANT BANKING & BROKERAGE
BUSINESSES THROUGH YES SECURITIES

IT ALSO PROVIDE MUTUAL FUND BUSINESS THROUGH YES ASSET MANAGEMENT (INDIA)
LIMITED, BOTH WHOLLY OWNED SUBSIDIARIES OF THE BANK.

HEADQUARTERED IN MUMBAI, IT HAS A PAN-INDIA PRESENCE ACROSS ALL 28 STATES

AND 9 UNION TERRITORIES IN INDIA
 FALL OF YES BANK
THE BANK COLLAPSED AFTER BEING HIT BY AN ALLEGED PROMOTER FRAUD AND CARELESS
LENDING. ABOUT TWO YEARS AGO,

IT WENT ON A LOANING SPREE WITH ADVANCES RISING BY 334% BETWEEN FINANCIAL YEAR
2014 AND 2019

MANY BORROWERS STARTED DEFAULTING THE BANK’S GROSS NON-PERFORMING ASSET

PERCENTAGE, THAT IS THE PERCENTAGE OF LOANS OVERDUE FOR MORE THAN 90 DAYS,
ZOOMED TO 7.39% AS OF SEPTEMBER 2019

BAD LOANS PILED UP, THE BANK DID NOT MAKE ENOUGH PROVISIONS IN ITS PROFITS. ITS
PROVISIONS WERE THE LOWEST AMONG COMPARABLE BANKS

CUSTOMERS WITHDREW LARGE AMOUNTS, RESULTING IN THE CREDIT-DEPOSIT RATIO

CROSSING 100% IN 2018-19. THAT IS, IT LENT MORE THAN IT RECEIVED.

THE BANK’S STOCK PRICE FELL STEADILY IN THE PAST YEAR

I HAVE TAKEN THE STOCK PRICES OF YES BANK(BSE) FOR A PERIOD OF 5 YEARS FROM 2015
TO 2020 FROM YAHOO FINANCE AND I HAVE MADE AN EFFORT TO TRACE THE THREE
TRENDS BY MAKING A CANDLESTICK CHART.i.e; (Primary trend, Secondary trend and the Minor
trends) AS SHOWN IN THE BELOW GRAPH.
  PRIMARY TREND:
• THE SECURITY PRICE TREND MAY BE EITHER INCREASING OR DECREASING

• WHEN THE MARKET EXHIBITS AN INCREASING TREND, IT IS CALLED AS THE “BULL MARKET”.

• WHEN THE MARKET EXHIBITS A DECREASING TREND, IT IS CALLED AS THE “BULLISH MARKET”.

• IT IS CONSIDERED TO BE THE MAJOR TREND IN THE MARKET.

• IT MAY INFLUENCE THE SECONDARY AND MINOR TRENDS.

• IT INDICATES HOW THE MARKET MOVES IN A LONG-TERM.

 SECONDARY TREND:
 THE CORRECTION IN THE PRIMARY TREND IS CALLED AS THE SECONDARY TREND.

 IT USUALLY LASTS FOR THREE WEEKS TO THREE MONTHS.

 IT GENERALLY RETRACES 33% TO 66% OF THE PRIMARY TREND.

 IN A BULLISH MARKET IT WILL BE A DOWNWARD MOVEMENT AND IN THE BEARISH MARKET IT WILL BE A RALLY.

 MINOR TREND:
 MINOR MOVEMENTS VARIES WITH OPINIONS FROM HOURS TO A MONTH OR MORE.

 IT FLUCTUATES ON A DAILY BASIS.

 THESE TRENDS ARE ALSO CALLED AS SHORT TERM TRENDS.

I HAVE TAKEN PAST 5 MONTHS (NOV 2019- MARCH 2020) DATA OF YES BANK(BSE) FROM YAHOO
FINANCE AND PLOTTED THE GRAPH.
FROM THE ABOVE PLOTTED GRAPH,

 WHEN THE CEO OF YES BANK GOT ARRESTED ON MARCH 8TH, THE SHARE
PRICES OF YES BANK, FELL DOWN DRASTICALLY. THE INVESTORS OF YES BANK
LOST HOPE IN YES BANK AFTER THE ARREST OF THE CEO.

 WITH THE ANNOUNCEMENT OF SBI AND THE OTHER BANKS MAKING AN

INVESTMENT IN YES BANK ON 13TH MARCH, THE SHARE PRICES OF YES BANK
INCREASED TO A CERTAIN EXTENT BECAUSE THE INVESTORS GAINED SOME
CONFIDENCE AND HOPE AFTER SBI ANNOUNCING THAT IT WOULD TAKE UP 49%
OF SHARES IN YES BANK.
 CURRENT SITUATION OF THE YES BANK
 YES BANK SHARE PRICE ROSE IN EARLY TRADE AFTER SBI ANNOUNCED IT WOULD INFUSE FUNDS INTO THE PRIVATE
SECTOR LENDER

• FEDERAL BANK ON SATURDAY SAID IT HAS COMMITTED TO INVESTING RS 300 CRORE IN BELEAGUERED YES BANK FOR
SUBSCRIPTION OF ITS 30 CRORE SHARES.(ECONOMIC TIMES)

• HDFC LTD AND ICICI BANK WILL INVEST RS 1,000 CRORE EACH, AXIS BANK WILL CHIP IN WITH RS 600 CRORE, AND
KOTAK MAHINDRA BANK WILL PUT IN RS 500 CRORE IN THE EQUITY SHARES OF YES BANK

• SBI ON THURSDAY ANNOUNCED INVESTING RS 7,250 CRORE

• STOCK MARKET INVESTORS RAKESH JHUNJHUNWALA, RADHAKISHAN DAMANI, AND THE AZIM PREMJI TRUST HAVE
REPORTEDLY SHOWN AN INTEREST IN PICKING UP STAKES IN YES BANK.

• ACCORDING TO AN SBI EXECUTIVE, THE SECOND TRANCHE OF INVESTMENT IN YES BANK OF AROUND RS 10,000
CRORE WILL TAKE PLACE WITHIN SIX MONTHS.
 CONCLUSION
YES BANK IS BADLY IN NEED OF CAPITAL FOR GROWTH. ABSENCE OF POSITIVE
NEWS ON THIS FRONT LED TO BEAR HAMMERING IN THE STOCK TAKING THE
STOCK BELOW RS 30. IT IS NATURAL THAT INVESTORS ARE FINDING IT
ATTRACTIVE TO INVEST IN THE STOCK FOR A STAKE

YES BANK WAS THE MOST ACTIVELY-TRADED STOCK ON NSE IN FRIDAY'S TRADE,
BOTH IN TERMS OF VALUE AND VOLUME. TECHNICAL CHARTS SUGGEST
IMMEDIATE RESISTANCE FOR THE STOCK AROUND RS 57 LEVEL, BREACHING
WHICH, THE STOCK CAN CLIMB UP TO RS 62-67 LEVEL. THIS SUGGESTS A
POTENTIAL UPSIDE OF 7-26 PER CENT.
THANK YOU!!!