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Published on 14/03/2019 3:41:58 PM | Source: Choice Broking Pvt Ltd

Buy Yes Bank Ltd For Target Rs.277 - Choice Broking

Posted in Broking Firm Views - Short Term Report| #Yes Bank Ltd #NBFC #Trading Report #Choice Broking

* On a daily chart, the stock has started to trade above its 200 Days Exponential Moving Average which indicates a positive rhythm in the counter.

* Moreover, the stock has given a breakout of its Range Bound Movement with above-average volume which suggests a robust upside movement in the counter.

* Furthermore, the stock has been trading with a positive crossover of 21*50 Days Moving Average which can be considered as a Bullish Crossover which shows a further upside movement in the counter.

* A daily momentum indicator RSI reading is at 73.55 level with a positive crossover in an Over Bought zone which points out for a positive breath along with volatility in the counter.

* Based on the above technical structure, we are expecting a good upside movement in the counter in few trading sessions.

Recommendation

Buy Yes Bank Ltd @250.80-252.15 Stop Loss 240.00 Target 277.00

 

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