logo logo

Get your daily dose of news with a twist. Follow News Boxer for unique and engaging info.Try it now

New Delhi, India (HQ)

Crypto Stocks

YES Bank, Adani Power, ITC: Trading strategies for these buzzing stocks

Share on:

YES Bank retraced 27 per cent to retest it breakout zone, following a long-overdue stage-II bullish breakout, offering an immediate but stiff support.

Domestic stock indices ended the truncated last week on a flat note on Thursday. Selling in select index heavyweights offset buying in metal and FMCG stocks. The BSE Sensex added 33.40 points, or 0.05 per cent, to settle at 74,119.39. The NSE Nifty gained 19.50 points, or 0.09 per cent, to end the session 22,493.55.

A few largecap stocks namely YES Bank Ltd, ITC Ltd and Adani Power Ltd could be under the spotlight today. Here is what analysts at Kushal Gandhi, Technical Research Analyst at Stoxbox has to say on these stocks ahead of Monday's trading session:YES Bank | Buy | Target Price: Rs 27 | Stop Loss: Rs 22.50The YES Bank stock retraced 27 per cent to retest the breakout zone, following a long-overdue stage-II bullish breakout, offering an immediate but stiff support. While the banking stock has seen improving EPS strength and buyers’ demand, the volume action indicates limited supply in the ongoing intermediate selling leg. With this, YES Bank offers a low-risk but high-rewarding opportunity to initiate long for the target of Rs 27 against a protective stop of Rs 22.50.ITC | AvoidThe ITC stock has corrected 20 per cent from its life-high. It indicates an attempt to show resilience to further drawdowns. However, it lacks enough structural evidence. The stock is trading below its 200- and 50-DMAs, which have bearish implications. One can avoid bottom-fishing on this stock at the current market price.Adani Power | Buy | Target Price: Rs 621 | Stop Loss: Rs 549Adani Power has been consolidating near its life-high level. With the progressing of time, the range has been getting tighter on the back of the 50-DMA, indicating potential signs of supply absorption. Furthermore, the sectoral group has been trending strongly. The stock is also showing healthy EPS and price strength along with a strong buyers’ demand. The RSI across daily and higher time frames are trending well above their medians, indicating a thrust in the price momentum. One can buy Adani Power for the target of Rs 621 against a stop loss of Rs 549.

(NewsBoxer brings you all the latest breaking news, information and viral trends etc from social media world, including Online News Portal, Twitter, Instagram and Youtube. The above post is embeded directly from the user's social media account and NewsBoxer Staff may not have modified or edited the content body. The views and facts appearing in the social media post do not reflect the opinions of NewsBoxer, also NewsBoxer does not assume any responsibility or liability for the same.)

Share on:


An editor at NewsBoxer
View Articles

Prateek is a content editor for the NewsBoxer and also reports on breaking news based in India and abroad. He has written about politics, sports, government, jobs, and the role of money in politics.

Join our newsletter

Join thousands of their industry professionals. Keep up-to-date with the latest mobile news, innovation and technology from around the globe. Don't miss out.

We don't spam