Yes Bank (Rs 70.3): Yes Bank reached its nadir when it recorded the low at Rs 40.8 in March this year. Though the stock has almost doubled in value since then, the medium-term view continues to be negative. A firm weekly close above Rs 90 would be the minimum requirement to turn the medium-term view positive for this stock.
Since both the long-term downtrend-line as well as the 200-day moving average are present here, this region is a formidable resistance for the rest of the year. That said, a sustainable trough appears to be in place at Rs 40 and corrections could halt at Rs 63 or Rs 55. Long-term investors can buy the stock in declines with a stop at Rs 50. Medium-term investors can buy with higher stops at Rs 60. Risk-averse investors can buy on a strong close above Rs 90.
Source : Businessline 19-04-09
Our Recommendation :
Our Research Team Views :
Day High Low Rs.75-67
Monthly High Low Rs.42-75
6M H/L Rs. 40-75
This share has risen sharply more than 90% in the last 6 months. The following
are the ideal ranges for buying and selling :
Buying Range : Rs.45-50
Selling Range : Rs. 70-80
Wait for the price to the buying range on correction in the stock markets.
Holding period : 2 months
Returns expected : 100% plus
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Quarter, 6 M / 12 M picks
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Equity Research Team
Intelligent Investor -
Invest Advisory Arm of
Ravina Consulting
Bangalore India
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