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You are here : IndiaNotes >> Research & Analysis >> Companies >> YES Bank Ltd. >> Research

Derivatives: Buy Indiabulls Housing Finance, Yes Bank

Way2wealth | 23 Feb, 2018  | Follow Author | Add to my Favourites 
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On back of weak global cues, Indian indices opened on negative note but on lower side found strong support around 10320-10340 levels. From those levels, short covering pullback was seen in selected heavy weight stocks that helped nifty to recover and finally it closed around 10383 levels with loss of 15 points.

- Short rollovers were seen in Nifty and bank nifty fut. in yesterday session as Nifty Mar fut premium reduced to only 7 points from 18 points a day before.

- Selected buying interest was seen in stocks like biocon, kotakbank, mindtree, adaniport, m&m and idbi.

- Selling pressure continued in banking, auto, metal and power sector. Major short accumulation was seen in stocks like powergrid, siemens, bergepaint, cummins, bel and torntpharm.

- Rnaval, syndibank, adanient, repcohome, gmrinfra and srtransfin were some of the stocks that saw short unwinding.

After disappointing February expiry, March series is expected to start on positive note but on higher side nifty will continue to see stiff resistance around 10600-10650 levels. Overall, market outlook remains subdued and any pullback towards 10650 levels can be used to book profit from long positions and initiate fresh short. On lower side, below 10300 nifty is expected to test 10120-10040 levels.


Script               Action         Initiation         Target         SL

IBULHSGFIN     BUY         Around 1270     1310         1254

YESBANK        BUY         Around 316        327          311

  Read full report Click here to read the full report

312.90 +0.50
312.90 +1.05
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Way2Wealth today has established itself as one of India’s ‘Premier Investments Consultancy Firms’, known for making investing simpler, more understandable and profitable for the investors. They offer a wide range of products & services viz: Equity, Derivatives, Currency Futures, Commodities Trading, IPO's, Mutual Funds, Portfolio Management Services & Depository Services.


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Disclaimer: The author has taken due care and caution to compile and analyse the data. The opinions expressed above are only the views of the author, and not a recommendation to buy or sell. Neither the author nor accept any liability whatsoever arising from the use of any of the above contents.

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