Hero MotoCorp was trading in a descending channel since June 2021. It has now managed to break out of the channel and is sustaining well above it, which is a bullish sign. 
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Hero MotoCorp was trading in a descending channel since June 2021. It has now managed to break out of the channel and is sustaining well above it, which is a bullish sign. Shares of YES Bank are likely to be in limelight on Friday after the stock rose over 4 per cent in the previous session amid heavy trading volumes and the management commentary on improving operational performance of the private lender. YES Bank shares surged 7 per cent intraday on Thursday, before eventually settling the day at Rs 16.76, up 4 per cent. The private lender is currently commanding a total market capitalisation of Rs 48,000 crore. YES Bank sees scope to expand its net interest margin by 100 basis points over the next three years by raising low-cost deposits and lending to higher-yield clients, its Managing Director and CEO Prashant Kumar told Reuters in an interview. "YES Bank is also counting on higher fee income growth to help improve margins," he added. YES Bank charts suggest the stock is likely to continue to move higher, supported by heavy volumes. The stock traded above its 50- and 200- day moving averages, with a positive crossover of the short term (5-day and 2-day) moving averages, supporting the bullish stance. On daily charts, the technical indicator RSI has seen a positive divergence that could trigger a short-term rally, said Sujit Deodhar, Head Technical Analyst at Wellworth Share & Stock Broking. "If one wants to trade YES Bank, the view is to go long on stock at the current level of Rs 16.65 and on dips to the levels of Rs 15.30, for an upside target of Rs 18.50-21 levels, with a protective stop loss below the Rs 14.40 level," he said. Image: Chart-YESBank "We have seen some kind of momentum in YES Bank since the last few days and the volume activity also suggests buying interest on the counter," said Riches Vanara, Technical and Derivatives Analyst at Stoxbox. "It has managed to surpass the immediate pivot level of Rs 16.20 and closed above it. We recommend buying the stock at current level and add more YES Bank shares above Rs 17.60. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Business Today)
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