YESBANK hourly chart suggesting a harmonic pattern probability.
- Bat Pattern.
If Bat pattern unfolds , stock may see 775-780 levels in the coming sessions.
Since Bat pattern poses major resistance at 760-780 levels, Price action at these levels will be crucial to watch, which will further determine, whether stock will continue its recent upward rally [started from 596 levels] or reverse therefrom.
Therefore let the stock test its prz area and watch price action near it.
Stop loss for this pattern can be place few ticks above prz area or at 800 levels, for a initial target of 705 -700.
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