YES Bank has shown promising gains, surpassing the resistance at Rs 22.40 with increased volume participation. Expectations lean towards a potential climb towards the Rs 24.75 mark, a previous peak zone. The stock’s current support rests near Rs 22, and with the improving bias, further upward movement might be anticipated in the near term.
Vedanta: Steady Recovery Signals Potential
Vedanta’s gradual recovery from its lows near Rs 211 positions it favorably, crossing the significant 200-period MA at Rs 258. Anticipate further upward movement targeting the range of Rs 275-280, though resistance might be encountered within this bracket. With support around Rs 254 and reinforced by a strengthening overall trend and robust RSI indicators, a continued rise seems plausible unless a clear breach beneath Rs 246 alters the bias.
JSW Energy: Riding the Momentum
JSW Energy has seen a notable rebound from the crucial 50-EMA level at Rs 380. Breaching the earlier peak at Rs 449 has fortified its stance, although profit booking occurred near Rs 477. Support appears near Rs 410, aligning with the significant 50-EMA, while the trend remains intact unless breached decisively beneath Rs 400. A close above Rs 460 might signal a sustained upward move, potentially targeting the Rs 470-480 range.
