Vedanta, YES Bank Among Stocks To Look Out For Today

The BSE Sensex on Monday dropped by 168.66 points or 0.24 per cent and settled at 71,315.09, while the NSE Nifty tanked by 38 points or 0.18 per cent to end the day at 21,418.65.
Vedanta and YES Bank are among the stocks to look out for today
Vedanta and YES Bank are among the stocks to look out for today

Following a choppy trading session the domestic stock indices settled with mild cuts on Monday as dull global cues dented the investor sentiment. The BSE Sensex dropped by 168.66 points or 0.24 per cent and settled at 71,315.09, while the NSE Nifty tanked by 38 points or 0.18 per cent to end the day at 21,418.65.

A few stocks like YES Bank Ltd, Vedanta Ltd and JSW Energy are expected to remain in the spotlight on Tuesday. Let’s look at what Shiju Koothupalakkal, technical research analyst at Prabhudas Liladher has in store ahead of today’s session.

YES Bank
YES Bank

YES Bank

[Hold | Target Price: Rs 24.75 | Stop Loss: Rs 22]

YES Bank witnessed some gains as it moved past the previous resistance zone of Rs 22.40 and improved the bias while rising volume participation. The stock is further expected to rise to retest the previous peak zone of Rs 24.75 level, where it can find some resistance. The short-term support would be near the Rs 22 zone. In the coming days, one can expect the stock to improve its gains with improving bias.

Vedanta
Vedanta

Vedanta

[Hold | Target Price: Rs 275-280 | Stop Loss: Rs 246]

Vendanta took time, but has steadily recovered from the lows made near the Rs 211 zone and has witnessed a decent pullback to move past the important 200-period MA of Rs 258 level. A further rise is expected with the near-term target likely to be in the range of Rs 275 to Rs 280, where it can witness further resistance. The short-term support for the stock would be Rs 254. A further rise is anticipated in the coming days amid improving overall trend and the RSI also indicating strength. The bias would only be weakened with a decisive breach below the Rs 246 level.

JSW Energy
JSW Energy

JSW Energy

[Buy | Target Price: Rs 470-480 | Stop Loss: Rs 400]

JSW Energy indicated a decent pullback from the important 50-EMA level of Rs 380 zone. The stock breached the previous peak zone of Rs 449 level to strengthen the bias. The stock resisted near the Rs 477 levels and saw profit booking recently. Near-term support in the level of Rs 410 is visible near the significant 50-EMA. The overall trend is likely to be weakened only be a decisive breach below the Rs 400 level, while a decisive close at around Ts 460 mark will establish conviction of a further upward trajectory for the stock in the coming days with the next expected target likely in the range of Rs 470- Rs 480.

Vedanta and YES Bank are among the stocks to look out for today
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