Market Updates : Share price of YES Bank: YES Bank’s four-day winning streak was halted on Monday when the company’s shares dropped precipitously. The stock fell 10.71% to close at Rs 28.01, the day’s low.
YES Bank Ltd.’s stock had a significant decline on Monday, halting its four-day winning streak. The stock fell 10.71% to close at Rs 28.01, the day’s low. The share has now dropped 14.63% from its one-year peak of Rs 32.81, which was reached last Friday.
framework for surveillance measures. Exchanges warn investors of high share price volatility by placing equities in either short-term or long-term ASM frameworks.
According to technical analysts, the stock has had a respectable increase over the last several weeks. Consequently, one cannot
“YES Bank stock price looks bearish and also overbought on daily charts with strong resistance at Rs 32.7,” stated AR Ramachandran of Tips2trades. Investors should take profits now since a daily close below the Rs. 28 support level could eventually lead to Rs. 24.”
“The stock has given more than 50% returns in a span of two weeks,” stated Ganesh Dongre, Senior Manager-Technical Research, Anand Rathi Shares & Stock Brokers. The stock is currently trading in the overbought area. Traders can therefore book a profit. Holding investors are need to maintain a hard stop loss at Rs 26.”
Prabhudas Lilladher’s Shiju Koothupalakkal, a technical research analyst, stated: “The stock has experienced a respectable increase. It has reached its first goal of Rs 32, although opposition has been encountered there. Now that the short-term support is around the Rs 26.50 zone, a clear break over Rs 32 would again set off a new breakout, raising the possibility of additional rises to the Rs 35 and Rs 41 levels.”
Angel One’s Senior Research Analyst-Technical & Derivatives Osho Krishan stated, “It is advisable to have a pragmatic approach on the counter and keep the trailing support zone (stop loss) on the higher front with the stock movement.”
The 5-day, 10-, 20-, 30-, 50-, 100-, 150-, and 200-day simple moving averages (SMAs) were all below the counter in terms of trading activity. Its relative strength index (RSI) for the last 14 days was 62.15. Oversold is defined as a level below 30, and overbought is defined as a value beyond 70. The price-to-equity (P/E) ratio of the company’s stock is 90.08, while its price-to-book (P/B) ratio is 2.18.
Disclaimer : The above article is meant for informational purposes only, and should not be considered as any investment advice.