Yes Bank: 790-820 May Be A Good Supply Zone

Great Rally Of 25% In The Last Few Weeks;

But Has To Sustain Above 790-820 For Further Rally Up To 910-950;

Otherwise, Expect Some Corrections 

CMP: 778

Sell either below 770 or on rise around: 790-805

TGT: 730-705*-651-631 (1-3M)

TSL> 820

Note: Consecutive three days closing above 820 for any reason, Yes Bank may further rally to 850*-875 & 910-950 zone in the mid to long term (alternative bullish scenario)

Although Q3FY16 result was above street estimates and has less provision, going ahead, bank's metal & EPC portfolio may cause some strain. 

Also, retail loan portfolio is not immune to any systemic NPA problem and if there is no significant economic recovery, retail loans may come under some stress. SBI's recent teaser home loan may be indicating some sort of retail stress.

Analytical Charts: