YES Bank, Tech Mahindra, IDBI Bank: How to trade these 3 buzzing stocks

Indian benchmark indices settled lower on Wednesday amid the rising geopolitical uncertainty, consistent FIIs outflows and delays in the India-US trade deal. Traders' focus is shifting towards Q3 results as well. BSE Sensex declined 244.98 points, or 0.29 per cent, to settle at 83,382.71, while NSE's Nifty50 cracked 66.70 points, or 0.26 per cent, to close at 25,665.60.


Select buzzing result bound stocks like YES Bank, IDBI Bank Ltd and Tech Mahindra Ltd are likely to remain under the spotlight of traders for the session today. Here is what host of brokerage firms have to say on them ahead of Monday's trading session:


IDBI Bank | Target Price: Rs 110-113 | Stop Loss: Rs 101

Prices of IDBI Bank have taken support at 50-days SMA on the daily charts and at present facing strong resistance at Rs 106 level. Currently, the stock is outperforming the benchmark indices and even momentum indicator RSI is positively poised. This suggests that momentum on the upside is likely to continue. Traders can consider holding their existing long positions at the current market price of around Rs 104, with a strict stop-loss at Rs 101, the stock has potential to test Rs 110–113 over the coming weeks to months.

Recommended by: Arihant Capital Markets

Tech Mahindra | Target Price: Rs 1,830 | Stop Loss: Rs 1,550

Tech Mahindra's daily chart reflects a steady turn around after a prolonged corrective phase. It has carved out a higher low structure and recently emerged from a tight consolidation zone, indicating accumulation at lower levels. Prices are comfortably placed above the key moving average, reinforcing the improving trend bias. Momentum indicators remain constructive, with RSI holding firm and MACD sustaining a positive crossover, signaling underlying strength. The recent breakout from the consolidation band suggests a continuation of the uptrend, with scope for gradual upside as long as the stock sustains above its immediate support zone. Therefore, one can accumulate a stock in range of Rs 1,660-1,670 levels for the expected upside of Rs 1,830 levels with stop loss below Rs 1,550 levels.

Recommended by: SMC Global Securities

YES Bank | Target Price: Rs 27-29 | Stop Loss: Rs 21

YES Bank Ltd is making a higher top higher bottom formation on the daily charts. At present, the stock has started outperforming the benchmark indices even though the momentum indicator RSI is positively poised. Hence, a momentum on the upside is likely to continue.  Considering the technical factors, traders are advised to hold their long positions at the current levels, with a stop loss at Rs 21. The stock has the potential to test Rs 27–29 in the coming weeks to months.

Recommended by: Arihant Capital Markets