The Indian benchmark slipped today after UBS slashed targets of Yes Bank and Indusind Bank, erased almost 70 points. The former cracked 11% while the latter plunged 8% today. Out of 2094 stocks, 371 are advanced, 1346 are trading in red and 377 are unchanged. On hourly scale, the index is forming a 'Head and Shoulder' pattern, which is a trend reversal pattern whose reliability is very high. The index is expected to extend its losses once it will trade below 11,770 levels. RSI is trading near 37 levels while Stochastic is hinting for more downside.