The bank has been in a down trend for sometime now and looks like more is yet to come. Looking at the weekly chart, the bank is sitting on a very crucial level of 116.20 (which is on the trend line ), down below the 120.50 major support. There are chances for the prices to climb for a short moment, owing to the positive divergence between the price and the RSI...
Shot Term Top Formed around 2465/- Reversal is at that point for normal correction
If it is irregular correction then may go beyond 2465/- but then eventually will come down drastically.
After dipping significantly in 3Q, slippages were up ~70% QoQ to ~Rs 35.5bn i.e.2.47% vs. 1.5% QoQ. This incl. an exposure of ~Rs 8.5bn to Renuka Sugars, which is currently servicing its debt (might be upgraded in FY20). W/Os were significantly higher at ~Rs 73.3bn (+~2.1/2.4x), leading to GNPA decline of ~10% QoQ (Rs 463bn, 6.7%). ~69% of corp slippages were from...
Trade Nivesh: Shares of YES BankNSE -0.09 % climbed 4 per cent in Thursday’s trade on the emergence of value buying on the counter following Tuesday’s steep 29 per cent slide.
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