April 01, 2016
Yes Bank (NSE Cash)
` 882
` 858 - 862
` 814
5-10 sessions
Daily Chart
Spinning Top
Overbought Territory
Source: Falcon (Time - IST 10:40)
From the ‘Private Banking’ space, this stock clearly outperformed in last three months. In fact, in the
recent rally, this was amongst the leaders to initiate a strong up move on the ‘Union Budget Day’.
Last month, we saw colossal rally of more than 20% in the stock, which was quite vertical in nature.
Thus, the ‘RSI-Smoothened’ oscillator on the daily chart has entered an ‘Extreme Overbought’ territory.
To support these observations, we can see a formation of ‘Spinning Top’ pattern around the 161%
retracement of the recent downward leg (from `789 to `663.35).
All these evidences indicate a possibility of some profit booking in the near term. Thus, we advise
traders to sell this stock from current level to a bounce up to ` 862 for a target of ` 814 in coming 5
to 10 trading sessions. The stop loss for this trade set up can be kept at ` 882.
April 01, 2016
Yes Bank (NSE Cash)
Last 5 recommendations
Recom. Buying/Selling CMP Target 1 Target 2 Stop-loss
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Booked Profit at 2310
Source: Angel Research
Research Team Tel: 022 - 40003600 (Extn.6552)
E-mail: [email protected]
Website: www.angelbroking.com
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