YES Bank, SBI, Tata Motors: Trading strategies for these buzzing stocks

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Domestic stock indices settled lower on Thursday as the interim Budget failed to cheer Dalal Street. There was no big-bang announcement by the Finance Minister Nirmala Sitharaman, which triggered some selling. The 30-share pack BSE Sesnex dropped 106.81 points, or 0.15 per cent, to settle at 71,645.30. The NSE Nifty shed 28.25 points, or 0.13 per cent, to end at 21,697.45. A few stocks of Dalal Street namely YES Bank Ltd, State Bank of India Ltd and Tata Motors Ltd are likely to remain under the spotlight of traders for the session today. Here is what Avdhut Bagkar, Derivatives & Technical Analyst at StoxBox has to say on these stocks ahead of Friday’s trading session:

 
The price action in the Tata Motors stock remains resilient, as it conquered a new historic peak on Thursday. The trend appears lucrative over the medium-term support of Rs 800. Until this level is defended, the stock is envisaged to scale uncharted territory and head in the direction of Rs 1,000 mark.
 

Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.

 

 

Also read: Paytm shares: After 20% plunge, will the stock fall further? 



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