YES Bank Share Price: Shares of Yes Bank jumped nearly 17 per cent on Wednesday. At the same time, in the last 4 days, this stock has climbed more than 23 percent. Due to this, speculation has started again about the return of YES Bank shares. However, technical analysts have given mixed views on the stock.
Shares of YES Bank closed at Rs 15.20 with a jump of 16.92% on the NSE on Wednesday. Some analysts say that the shares of YES Bank may face resistance to cross the Rs 15.20 to Rs 15.50 level. At the same time, some analysts say that this stock can rise to the level of Rs 16 or even Rs 20 from here. However, on the downside, he said that the level of Rs 13 will act as a support level for this.
The Economic Times quoted Milan Vaishnav, Founder, Gemstone Equity Research and Advisory Firms, as saying that the shares of YES Bank are trading in the range of Rs 12-15 from around October 2021 and it is moving above all its major moving averages. However, he considered investing in it as risky as the recent rally in its shares is not backed by any technical indicators. The analyst termed the Rs 15.20 level as resistance for the stock.
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On the other hand, Nagraj Shetty, Technical Research Analyst, HDFC Securities, pointed out that this week’s sharp volatility offered a chance for a decisive upside breakout with a large consolidation at Rs 15.50 level, which could be a good sign for the stock price. Is.
He said, “Technically, such a bullish move after a wide range of volatility indicates further upside. Hence, a durable cross above the Rs 15.50-16 level opens up opportunities for a possible upside pattern,” he added. We expect these targets to be achieved in the next 1 or 2 months, which will go up to Rs 20 levels from Rs 19.50. The stock may see a strong resistance once it hits the highs of Rs 20. and it is expected to decline from this level.”
Yes Bank deposit increased
While releasing the business update on Tuesday, Yes Bank said that in the March quarter, the bank’s deposits grew by 7% on a quarterly basis to Rs 1,97,281 crore. On the other hand, deposits have grown by 21% on a year-on-year basis.
Yes Bank’s advance has increased 9% on a year-on-year basis to Rs 1,81,508 in the March quarter. It was Rs 1,66,893 crore in the corresponding quarter of last year. Advance refers to the loan that the bank gives to a company for a specific work. Companies have to repay this fund faster than loans.
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