Yes Bank can test Rs 290: Manas Jaiswal

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Yes Bank can test Rs 290, says Manas Jaiswal , Associate Vice President-Technical Analyst, Motilal Oswal Securities.

Jaiswal told CNBC-TV18, "We are very much bullish on banking space. Largecap stocks like ICICI Bank , SBI are looking very strong on the charts. Even HDFC is looking good on the charts. We may see around 5-8% upside move in these stocks."

He further added, "My picks are midcap banking like Yes Bank. Yes Bank can give a good move from current levels. Possibly it can test Rs 290 in the next 2-3 weeks time. On downside one should keep a stoploss of Rs 243."

" Allahabad Bank is comfortably trading above that 2008 high, so I think one can buy that stock at current levels. It is in the fresh bull run and stock can come in the range of Rs 162-165 in near future. On downside the stoploss should be Rs 138."

Disclosures: I do not have any position in the above stock.