Hold JK Tyre; exit YES Bank on rallies: Simi Bhaumik

Simi Bhaumik of simibhaumik.com told CNBC-TV18, "I think one should hold JK Tyre. The stock is looking good on technical parameters. Short-term target could be Rs 125-135. One can maintain a stop loss below Rs 100. Over a medium-term perspective I am expecting it do very well. If one is willing to hold it for next one year, I am expecting a target of Rs 150-170. Technically it looks good, short-term trend is also firm, I think we should maintain the stoploss and hold it.""YES Bank does not look good on technical parameters. Short-term outlook is weak, I can give a target of Rs 770-780. It is unlikely to cross Rs 800 immediately and it may not sustain also at higher levels. So, it is better for one to exit at rallies. As of now, if one wants to hold the stock, I would suggest to put a stop loss maybe below Rs 700 because this stock has a major support between Rs 720 and Rs 700. Maintain a stop loss below Rs 700 or use any rally in the stock to exit because I am expecting much more weakness from these levels.," he said.