June 13, 2019 / 5:22 AM / 2 months ago

BUZZ-India's Yes Bank hits near 4-year low, may fall further - Technicals

** Shares of Yes Bank Ltd fall as much as 10.43% to 120.7 rupees, lowest since Aug 24, 2015

** Stock cuts below a support at 123.25 rupees, the 23.6% Fibonacci projection level on the downtrend from April 10 high to May 17 low (wave 3) tmsnrt.rs/2Rdsnew

** Stock on Wednesday broke below a key support at 136.12 rupees, the 14.6% projection level, after Moody’s placed company’s rating under review for downgrade

** Close below the 23.6% projection level may lead to further fall up to the next support at 102.37 rupees, the 38.2% projection level

** Wave pattern suggests stock is in the final wave of a five-wave downtrend

** Stock down 42.9% in the last three months until Thursday’s close, while the broader NSE Index gained 5.4% in the same period

Reporting by Gaurav Dogra

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below