Shabbir Kayyumi Narnolia Financial Advisors
Yes Bank seems bottoming out at its lower levels of Rs 310 mark from where it formed morning star on daily chart suggesting upsurge on the higher side.
The scrip took support from its upward sloping line along with declining histogram in the negative territory of MACD and oversold RSI on the daily chart are giving cues that scrip can take a turn on northward side.
Principal of polarity can provide strong support in coming sessions. Aforementioned rationale suggests buying in the scrip around Rs 320 for the target of Rs 370 with the stop loss of Rs 305 mark.
Disclaimer: The author is Head – Technical & Derivative Research at Narnolia Financial Advisors Ltd. The views and investment tips expressed by investment expert on moneycontrol.com are his own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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