February 29, 2016
Yes Bank (NSE Cash)
BUY
`650
` 681 - 677
` 735
14 - 21 sessions
Daily Chart
Source: Falcon (Chart Time: 11:20 IST)
Justification:
The stock is consolidating in a broad range of `600 - `780 since last six months. In last few trading sessions,
the prices have corrected from `789 to `666 and are currently trading near the 78.6% retracement support of
the previous up move from `631 to `789. At this support level, prices have also formed ‘ab=cd’ pattern and
thus we are expecting prices to move up to the higher end of the trading range. Thus, we advise traders to buy
this stock from current level to a decline up to ` 677 for a target of ` 735 in coming 14 to 21 trading sessions.
The stop loss for this trade set up can be kept at ` 650.
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February 29, 2016
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Source: Angel research
Research Team Tel: 022 - 4000 3600 (Extn. 6552) Website: www.angelbroking.com Email: [email protected]
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