Chart Check from IIFL Private Wealth for Tuesday, March 13: Titan Industries, Yes Bank

We have compiled technical recommendations from Ashish Chaturmohta, Vice President – Derivatives & Technical Analyst, IIFL Private Wealth Management for 5-7 days.

BUY Titan Industries with a target of Rs 250 and a stop loss of Rs 236

The stock after giving a crucial breakout above 227 levels on its weekly charts, has witnessed buying interest at lower levels. Now, sustaining at current levels the stock can retest its recent high of around 255 levels, whereas on the downside 235 holds as an immediate support. The MACD indicator on its daily charts is showing a positive crossover to its signal line, indicating buying momentum can be seen in the stock. The stock has been comfortably trading above its long term and short term moving averages, suggesting positive bias.

2) Buy Yes Bank Ltd with a target of Rs 380 and a stop loss of Rs 365

After showing a strong rally from 232 to 375 levels the stock showed some profit booking and retraced till 321 levels where its 38.20% retracement is seen, from where again buying interest is seen. Now, sustaining at current levels the stock can retest it’s all time high levels of around 380 levels, whereas on the downside, 350 holds as an important support. The MACD indicator on its daily charts is showing a positive crossover to its signal line, suggesting positive bias.