YES Bank, Infosys, Tata Power: How to trade these 3 buzzing stocks

Indian stock markets continued to settle lower on Friday as the Trump tariffs spooked the trader sentiments across the globe. The current scenario remained feeble ahead of Q4 results from India Inc due later this week. BSE Sensex cracked 930.67 points, or 1.22 per cent to settle at 75,364.69 for the day, while NSE Nifty50 index plunged 345.65 points, or 1.49 per cent to end the session at 22,904.45.

 

Some buzzing stocks including YES Bank, Tata Power Co and Infosys are likely to remain under the spotlight of traders for the session today. Here is what Mileen Vasudeo, Senior Technical Analyst at Arihant Capital Markets has to about these stocks ahead of Monday's trading session:

 

Tata Power Co | Sell | Target Price: Rs 320-300 | Stop Loss: Rs 390

We are observing strong resistance at Rs 380 – 385 level on the daily charts of Tata Power. At present the momentum indicator RSI is negatively poised. Further, the prices have started trading below 10-days SMA (Rs 378). Combining all the above parameter it is evident that momentum on the downside is likely to continue. Hence, one can sell the stock at current levels with a stop loss of Rs 390 for a target of Rs 320-300 levels in a couple of weeks.

 

YES Bank | Buy | Target Price: Rs 21-23 | Stop Loss: Rs 15

We are observing a double bottom formation at Rs 16 level on the daily charts of YES Bank. The stock is also making a higher high formation. Even the momentum indicator viz. RSI is positively poised. Combining the above parameter, it is evident that momentum on the upside is likely to continue. Hence, one can buy the stock at current levels with a stop loss of Rs 15 for a target Rs 21-23 levels in a couple of weeks.

 

Infosys | Sell | Target Price: Rs 1,410-1,375 | Stop Loss: Rs 1,500

We are observing a lower top lower bottom formation on the Daily charts. Even, the momentum indicator RSI is negatively poised. Further, the prices have started trading well below the 10-days SMA (Rs 1,561). Combining all the above parameter it is evident that momentum on the downside is likely to continue.  Hence, one can sell the stock at current levels with a stop loss of Rs 1,500 for a target Rs 1,410-1,375  in a couple of weeks.