|Buy Range||182 – 188|
|Target||203 – 220|
|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#
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.
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.