SAY YES TO YES BANK BETWEEN 225- 235

Yes Bank – Short Term Bounce on Cards- Oversold

-> After making a classical top at 540-550 the stock did confirm a major trend reversal by breaking intermediate lows.
-> The chart started looking horrible way back in end of July but given the gap downs could not initiate any short trades.
-> Now the stock has fallen all the way to previous lows of 2010/2011. Can expect a bounce even if it has to fall below the 2011 lows.
-> Given the risk-reward being in favor one can buy at 225-235 with stoploss 215 and review at 260-275. Keep booking partial profits on rise to reduce risk.
-> Also would like to make a specific note that this is a short term trade and long term would still prefer other banks like DCB, City Union or a HDFC Bank ( if it comes to 450) which are much better in their loan practices and so on.