Aditya Birla Money is bearish on YES BANK and has recommended sell rating on the stock with a target of Rs 270 in its August 18, 2011 research report...
Aditya Birla Money is bearish on YES BANK and has recommended sell rating on the stock with a target of Rs 270 in its August 18, 2011 research report.
“YES BANK, prices have seen a decent bounce back from the rising trend line support over the last one week, however failed to sustain its recovery and closed below the same yesterday. This could signal the resumption of down trend from July high of 340 and keep the sentiment weak towards the supports near Rs 281 and then Rs 274 in the forthcoming trading sessions. Daily MACD (12/26/9) is trending down and is below the zero line while the RSI (14) is turning down from the equilibrium and would be supportive for the same.”
“On the upside, trend line break down level of Rs 293 and yesterday’s high of Rs 299 act as good resistance. Only a decisive close above the latter would turn the sentiment mixed to positive negating the expected weak tone. Sell Yes Bank initially below Rs 287.75 and then on any rise to Rs 292, SL Rs 300, target Rs 275/270,” says Aditya Birla Money research report.
Aditya Birla Money is bearish on YES BANK and has recommended sell rating on the stock with a target of Rs 270 in its August 18, 2011 research report.
“YES BANK, prices have seen a decent bounce back from the rising trend line support over the last one week, however failed to sustain its recovery and closed below the same yesterday. This could signal the resumption of down trend from July high of 340 and keep the sentiment weak towards the supports near Rs 281 and then Rs 274 in the forthcoming trading sessions. Daily MACD (12/26/9) is trending down and is below the zero line while the RSI (14) is turning down from the equilibrium and would be supportive for the same.”
“On the upside, trend line break down level of Rs 293 and yesterday’s high of Rs 299 act as good resistance. Only a decisive close above the latter would turn the sentiment mixed to positive negating the expected weak tone. Sell Yes Bank initially below Rs 287.75 and then on any rise to Rs 292, SL Rs 300, target Rs 275/270,” says Aditya Birla Money research report.