yes bank share price: Big Movers on D-St: What should investors do with UCO Bank, Yes Bank and IOB?

Sectorally, buying was seen in telecom, IT, public sector, and banks while some selling was visible in realty, oil & gas, consumer durables, and metals.

Stocks that were in focus include names like

which was up nearly 20%, which gained nearly 14%, and which closed with gains of nearly 15% on Tuesday.

Here’s what Rameshver Dongre, Research Analyst – Equity Research at CapitalVia Global Research recommends investors should do with these stocks when the market resumes trading today:


UCO Bank: Hold
Technically, the UCO Bank’s recent trend is bullish on the weekly chart. The stock is presently trading at a 52-week high.

In a similar vein, the PSU Bank index’s weekly chart is also trading close to a record high. Investors should keep holding their positions as long as it sustains above the major support of 22 levels.

In the near term, it has resistance at 28 levels. UCO Bank has the potential to climb further up to 36 and then 44 levels.

Yes Bank: Buy
Yes Bank is a private

that was established in 2004 by Rana and Ashok Kapoor. It has its headquarters in Mumbai, India.

Technically, Yes Bank’s overall trend is bearish, but recently, it has broken out of two-year price consolidation and is trading at a 52-week high.

The RSI is also going upward from the oversold region, which suggests that an upside movement has just begun.

As long as it maintains above the 15.50 level on the closing bell, traders and investors should maintain a bullish stance on the stock. On the higher side, 29 and 37 levels can be seen.

: Buy
Indian Overseas Bank is a public sector bank based in Chennai. It has about 3,214 domestic branches, four foreign branches, and a representative office.

On the monthly chart, IOB is forming a Head and Shoulder pattern after a 12-year-long bearish trend.

According to this pricing pattern, one should buy on a breakout of 29 levels for the targets of 40 and 48 levels with a strict stop loss of 14.90.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)