Technical Outlook & Trading Strategy:-
The price of Yes Bank has registered a breakdown from its rising trendline support (Weekly Chart).
On the daily chart the stock is trading below its 200 Day moving averages, which is a negative sign.
We believe that this breakdown suggests that the stock price could decline towards the levels of Rs 278 /Rs 272 in the near term.
We recommend sell at current level and again on pullback to the levels of Rs 294- Rs 296 with a stoploss placed above Rs 300.45
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