See more upside in Yes Bank , says Sudarshan Sukhani of s2analytics.com.
Sukhani told CNBC-TV18, " Peninsula Land has seen back to back gains for two days, that is not all, it doubled itself in the last two months. Clearly some good things are going on but now at current reckoning you have to wait again for a new buy signal which would be a new base then only buying is worth it."
He further added, "In Yes Bank - we understand that the weakness was simply a mild correction in a very strong uptrend. It wasn’t coming down to Rs 350 either. Tuesday’s price action tells us that Yes Bank is going much higher. In the morning I explained technical analysis works because we accept that sometimes we have not understood the charts or the markets have changed. Yes Banks charts were evidently not as bearish as I thought they were. It is an excellent stock now on the long side."
Sukhani told CNBC-TV18, " Peninsula Land has seen back to back gains for two days, that is not all, it doubled itself in the last two months. Clearly some good things are going on but now at current reckoning you have to wait again for a new buy signal which would be a new base then only buying is worth it."
He further added, "In Yes Bank - we understand that the weakness was simply a mild correction in a very strong uptrend. It wasn’t coming down to Rs 350 either. Tuesday’s price action tells us that Yes Bank is going much higher. In the morning I explained technical analysis works because we accept that sometimes we have not understood the charts or the markets have changed. Yes Banks charts were evidently not as bearish as I thought they were. It is an excellent stock now on the long side."
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