OUR RECOMMENDATION
| CMP# | 184.25 |
| Idea | BUY |
| Buy Range | 182 – 188 |
| Target | 203 – 220 |
| StopLoss* | 164 |
| Duration | 20 – 25 Trading Sessions |
| Potential Return^ | 10 – 19% |
| CMP# | Idea | Buy Range | Target | StopLoss* | Duration | Potential Return^ |
| 184.25 | BUY | 182 – 188 | 203 – 220 | 144 | 20 – 25 Trading Sessions | 10 – 19% |
# CMP on Jan 11, 2019
* Maintain recommended StopLoss by daily closing basis.
Once 1st target hit, reset StopLoss at 194.
^ The returns are calculated based on CMP#
COMPANY OVERVIEW
Having over 18,000 employees, 1800+ ATMs and 1150 branches, Yes Bank is the fourth largest private sector bank having verticles in banking, insurance and wealth management. The company reported a standalone net profit of Rs 1001.85 crore for the quarter ended December 31, 2018, compared to Rs 1076.87 crore reported during the corresponding period of 2017-18.
| Stock Data | |
| NSE Code | YESBANK |
| Sector | Private Bank |
| 52W High | 404 |
| 52W Low | 146.75 |
| Face Value | 2 |
TECHNICAL OBSERVATIONS (WEEKLY)
- The share price of Yes Bank has been a sharp declining trend since it’s lifetime high of ₹ 404 registered during August 2018.
- After a consistent downtrend in the last 4 months, the stock price has shifted into a sharp upside bounce in this month.
TECHNICAL OBSERVATIONS (DAILY)
- The stock managed to surpass the falling price resistance and has given the breakout of the trend line indicates a positive sign.
- MACD has formed positive divergence on the daily chart, which indicates the loss of selling momentum and a possible rise in trend reversal.
