YES Bank, Wipro, Adani Ports: Trading strategies for these 3 buzzing stocks

Indian benchmark indices kicked off the week on a muted note and settled little changed on Monday. Profit booking in the fag-end of the session, ahead of election results next week, kept the traders hooked to the edges. BSE Sensex shed merely 19.89 points, or 0.03 per cent to settle at 75,390.50. NSE's Nifty50 index dropped 24.65 points, or 0.11 per cent, to end the session at 22,932.45.

Some buzzing stocks namely Adani Ports & Special Economic Zone Ltd (APSEZ), YES Bank Ltd and Wipro Ltd are likely to remain under the spotlight of traders for the session today. Here is what Shiju Koothupalakkal, Technical Research Analyst at Prabhudas Lilladher has to say on these stocks ahead of Tuesday's trading session:

YES Bank | Neutral | Resistance: Rs 23.90 | Support: Rs 21.70
YES Bank after taking support near Rs 21.85 zone recently has been in consolidation near the Rs 23 levels for quite some time and would need a decisive breach above the significant 50 EMA level of Rs 23.90 to improve the bias and thereafter anticipate further rise. On the downside, the Rs 21.70 would be the crucial and important support zone which needs to be sustained as of now to maintain the bias intact.

Wipro | Range-bound | Resistance: Rs 470 | Support: Rs 448
Wipro has been moving within a range between Rs 470 and Rs 445 levels with consolidation happening just maintained above the important 200 period MA level placed at Rs 448 levels. Currently, with a dip witnessed from the 50 EMA level of Rs 470 zone has slightly weakened the bias and expected to take support near Rs 448 levels (200 period MA). For the bias to improve, a decisive breach above the Rs 470 zone is necessary to indicate a breakout and thereafter anticipate for further rise.

Adani Ports & Special Economic Zone | Hold | Target Price: Rs 1,490-1,560 | Stop Loss: Rs 1,380
Adani Ports has recently witnessed a decent pullback from the support taken near Rs 1,240 zone and thereafter gaining strength has moved past the previous peak zone of Rs 1,425 levels to indicate a breakout and can expect further rise in the coming days. The near-term support would be at around Rs 1,380 levels above which the bias would be maintained positive. On the upside, with bias maintained positive, the next targets visible are Rs 1,490 and Rs 1,560 levels respectively.

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