DSIJ Mindshare

The domestic benchmark indices have settled on Thursday giving strong gains backed by heavyweights in banking stocks. Sensex touched the fresh all-time high of 59,204.29 level in intraday trade, whereas Nifty made a fresh peak of 17,644.60 level. The BSE Bankex index shined among the sectoral indices while the BSE IT index experienced the highest drag. 

What may excite the bulls in Yes Bank is that the shares of Yes Bank managed to close just above the 200D SMA on Thursday. This development suggests a reversal of long-term trend in Yes Bank, theoretically speaking.

The BSE Smallcap index climbed by only 0.08 per cent, underperforming the broader markets.

The other PSU stocks that are seen outperforming markets on Thursday are SBI, Indian Bank and Bank of Baroda.

Performance from the broader market is a bit subdued but they too were seen trading with modest gains with Nifty Midcap 100 and Smallcap 100 advancing 0.19 per cent each.   We have handpicked some stocks that look appealing as BTST candidates; you can keep them on your watchlist!