YES Bank has shown a positive trend following the announcement of its massive Q4FY26 numbers, forming a bullish pattern on the weekly chart, said the analyst.
YES Bank has shown a positive trend following the announcement of its massive Q4FY26 numbers, forming a bullish pattern on the weekly chart, said the analyst.Indian equity benchmark indices posted big gains on Monday on the back of positive geopolitical cues and fall in the crude oil prices. Traders will be looking for Monsoon and economic cues for the further direction. The BSE Sensex soared 1,695.40 points, or 2.30 per cent, to close at 75,527.95, while NSE's Nifty50 declined 461.30 points, or 1.99 per cent, to end at 23,622.90.
Select buzzing stocks like Housing & Urban Development Corporation Ltd (Hudco), BSE and YES Bank Ltd are likely to remain under the spotlight of traders for the session today. Here is what Muthuselvaraj M, Technical research analyst at Mirae Asset ShareKhan has to say on them ahead of Monday's trading session:
BSE | Buy | Target Price: Rs 4445-4623 | Stop Loss: Rs 3,785
BSE Ltd has retraced nearly 38 per cent of its Fibonacci level from its peak of Rs 4,446. It is showing resilience by forming a bullish pattern from its swing low at Rs 3,785 on the daily chart. This suggests that another upward move is expected towards Rs 4,623, defending the Rs 3,780 level for the near and short term. The price remains strong as it is trading above the 50 and 20 exponential moving averages at Rs 3,743 and Rs 3,982, respectively, on the daily timeframe. The momentum indicators are also looking for a positive cross and an upward trend, suggesting that the rally will continue in the upcoming sessions. The outlook should be positive biased.
YES Bank | Hold | Target Price: Rs 26 | Stop Loss: Rs 20
YES Bank has shown a positive trend following the announcement of its massive Q4FY26 numbers. It is forming a bullish pattern on the weekly chart. The price is also trading above all moving averages across all timeframes, which suggests that the rally could reach Rs 26 with the key support at Rs 20 followed by Rs 17 in the short term. A break above this upside hurdle indicates that the positive momentum could continue beyond the Rs 32 level in the medium term. Both the MACD and RSI momentum indicators have shown a positive cross and are standing upward at 60 on a weekly basis. Therefore, Yes Bank stock is expected to continue its positive momentum in the upcoming timeframe.
Housing and Urban Development Corporation | Buy | Target Price: Rs 240-305 | Stop Loss: Rs 195
Hudco saw profit-taking from its nearest high at Rs 235 after announcing its massive Q4FY26 numbers. Subsequently, it has been consolidating between the Rs 197 and Rs 210 range. A break above the consolidation zone at 210 would suggest the rally could continue, with upside levels extending to Rs 240 and Rs 305. The key support area for the short and medium term is at Rs 195. Coincidentally, the 200-SMA is also placed at Rs 210, so the stock needs to cross above this level for sustained bullishness. Overall, the strategy is to trade with buying interest above the hurdle of Rs 206-210, with sustainable support at Rs 196 for the short term.