Sell Yes Bank between Rs 796.55 to Rs 805. Stoploss at Rs 827 :: HDFC Securities

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 The stock is showing negative bias for the short term and it has completed the larger degree rising leg at 895.  The stock has reversed exactly from the rising channel line. From the highs price has been falling in an impulse manner and the breakdown below 21 Day EMA has confirmed that top of 895 is a crucial top. Price has completed minor “wave i/a” at 791.60 levels and minor “wave ii/b” at 827 which is small retracement of earlier leg. Now a breach of earlier low of 791.60 has been witnessed which confirms the stock is in progress of fresh falling leg. The falling leg could be minor “wave iii/c”. The 61.8% and 100% projection levels are placed at 760 – 720 levels.  Traders could sell the stock between CMP to 805 with the stoploss of 827 on closing basis for the targets of 760 - 720.

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http://www.hdfcsec.com/Share-Market-Research/Research-Details/StockReports/3011275