YES Bank (Rs 298.8): In our review of YES Bank in January, we had written that the stock could decline to the zone between Rs 180 and Rs 200 where investors could buy the stock. The stock however bottomed at Rs 223 in February and went on to record a new life-time high at Rs 388 in November. A correction is currently in progress that has short-term support at Rs 275. Investors with a greater penchant for risk can buy at current levels with stop at Rs 270. Reversal from here can take the stock up to Rs 340 or Rs 380 in the days ahead.
Key medium-term support for the stock is at Rs 255 and investors can continue to hold the stock as long as it trades above this level. Breach of this support can drag the stock down to Rs 214 or Rs 173.
Source Businessline.com
OUR RECOMMENDATION :
The scrip is finding good support around 260 levels and is finding it difficult to go through 370 levels. This present excellent trading opportunity to buy around 280 levels and exit at 360 which gives you an upside of 35% holding period of 3-4 months
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