Buy Yes Bank around Rs 300, says Sudarshan Sukhani, s2analytics.com.
Sukhani told CNBC-TV18, “Kotak Mahindra Bank chart gives the impression that it’s become a semi-private bank rather than a roaring young private entrepreneur and Yes Bank has all the right signs. So the correction towards Rs 300 was a perfect opportunity to go long. I would feel that it will cross its earlier high of Rs 400 sooner rather than later.”
He further added, “It will be wise to sell into metal stocks. These pullbacks, sometimes they just are random moves on a day-to-day basis. It’s difficult to identify why that happened, but broadly the trend for each of them is down. The only risk that we have when we sell into anything is that the Nifty could go and cross 5200. If that happens irrespective of the instrument that we have sold we should cover our short positions.”