The Markets look directionless and sluggish , hampered by the highly uncertain global cues. The situation on the Libya front worsened yesterday with the attack by the Allied forces. However, with the US promosing to tone down the attacks, and Gaddafi expected to soften his stand may help to control the situation temporarily, however a consensus on the same is yet to be reached.
On the other hand, the impact of Japanese earthquake on the Economies worldwide is still a lingering question.However, its impact on the global supply chain is already being felt.However, one significant thing which is to be taken into consideration is, any significant success on the restoration of the situation there would act as a positive trigger.
 |
| Yes Bank : Expecting an Upmove |
As in the previous rally, the Bankex is expected to lead the rally, and it remains a favourite area for the investors. The sector looks to be a good bet for stock specific entry. Thus, we have tried to cover more and more stocks which can act as Shock Absorbers! Bear the shocks with minimal losses and spring upwards in a positive trend.
The stock for analysis today is ' Yes Bank'. The stock has shown a bullish ascending triangle pattern with a break out expected above the levels of 283. The stock could see a quick upmove towards levels of 310. Stop loss for the same should be kept at 278.
Further confirmation of the pattern is received from the trend in the trading volumes.
No comments:
Post a Comment