YES BANK Share Price: BIG BREAKOUT! New levels found, investors must take note

YES BANK Share Price yesterday soared by around 16.75 per cent in the intraday trade. It was a big breakout that it actually managed to sustain above Rs 15-mark. As per the stock market experts, Yes Bank share price today has opened in the red zone by losing around 2.45 per cent in the Opening Bell itself. They said that one must keep some important levels that involve support, resistance and next breakout or breakdown in mind before taking any step.

Advising share market investors to wait if they want to buy, Mudit Goel, Senior Research Analyst at SMC said, "Yes Bank is a sell on rise scrip as it has strong resistance at Rs 18 and Rs 20 now. After the YES BANK share opened below its yesterday's close, shareholders of the private lender are advised to maintain the stop loss at Rs 13." Goel said that Yes Bank may gain fresh momentum after it comes above yesterday's close of Rs 16.40.

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Asking to avoid fresh buys in Yes Bank shares, Simi Bhaumik, a SEBI registered technical equity analyst said, "YES BANK share price has immediate resistance at Rs 18 and on the breakage of this level it may go up to Rs 20 and Rs 22. We have witnessed a trend reversal in the stock yesterday. However, I would advise Yes Bank shareholders to come out of their position if it further goes down below Rs 12.50 and in that case it may soon hit single digit numbers."

Bhaumik advised YES BANK share holders to re-enter at Rs 7.50 to Rs 8 per stock levels if the stop-loss gets triggered at Rs 12.50.