YES Bank, ABB India, Granules India: Trading Strategies for these buzzing stocks

Domestic stock indices failed to hold early gains on Thursday as they settled sharply lower on geopolitical concerns and waning rate cuts expectations. The BSE Sensex dropped 454.69 points, or 0.62 per cent, to settle at 72,488.99. The NSE Nifty50 index tumbled 152.05 points, or 0.69 per cent, to end the session at 21,995.85. This was the fourth day of fall for key indices.

A few stocks namely Granules India Ltd, ABB India Ltd and YES Bank could be on traders’ radar. Here is what Avdhut Bagkar, Derivatives & Technical Analyst at StoxBox has to say on these stocks ahead of Friday's trading session:

Granules India | Hold | Resistance: Rs 440-480 | Support: Rs 410-380
Shares of Granules India are trading in a tight support-resistance zone of Rs 440-410 level. A breakdown below Rs 410 could send the stock towards Rs 380-360 levels. A breakout over Rs 440 would clear uncertainties and a positive move towards Rs 470-480 could be anticipated. The volume scenario depicts a sluggish trend, implying lower interest on the counter so far.

ABB India | Accumulate | Resistance: Rs 6,750-7,000 | Support: Rs 6,250-6,200
ABB India is witnessing exhaustion above the Rs 6,750 level, suggesting hurdle for the current upward trend. While the broader outlook remains positive, the stock must witness accumulation around Rs 6,250-6,200 range. When that happens, a fresh breakout could push the price towards the Rs 7,000 level.

YES Bank | Hold | Resistance: Rs 26-27 | Support: Rs 20-21
YES Bank is positively reacting to the accumulative range of Rs 20-21, suggesting the bullish momentum is in play. To break out on the upside, the price action must overcome the Rs 26-27 mark. The undertone remains highly optimistic, with a medium-term objective standing at Rs 40.

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