YES BANK share price rises in opening bell; crucial support levels to keep in mind revealed by experts
YES BANK share price has been falling for the last one week and it has now broken its immediate support of Rs 15. So, Yes Bank shareholders must know the new levels -support, overall trend, etc.
YES BANK share price had been falling for the last one week and it even had broken its immediate support of Rs 15. But, in the opening bell today, Yes Bank shares opened in the green zone and rose over 1 per cent today. However, the Yes Bank stock price continue to remain below Rs 15, its earlier strong support level. So, Yes Bank shareholders must know the new levels -support, overall trend, etc. Also, they must know about the new targets, whether the support is likely to continue or not, before making any decision in regard to buying Yes Bank shares. According to stock market experts, Yes Bank has broken its Rs 15 support and now its new support is Rs 12 to Rs 12.50. However, they maintained that there can be a trend reversal and in that case Yes Bank share price target will be Rs 18. On the breakage of this Rs 18 levels, Yes Bank stock price may go up to Rs 22 even. However, in the case of Yes Bank breaking its new support of Rs 12 to Rs 12.5 on the negative side, then it may soon hit the single digit figure.
Speaking on the Yes Bank share price outlook Mudit Goel, Senior Research Analyst at SMC said, "YES BANK share price has broken its Rs 15 support and now it has strong support at Rs 12 to Rs 12.5 levels. Those who hold YES BANK stocks are advised to maintain the stop loss at Rs 12 and wait for the trend reversal. On trend reversal, Yes Bank share price may go up to Rs 18 immediately."
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Highlighting the important levels for Yes Bank shares; SEBI registered technical stock analyst Simi Bhaumik said, "Yes Bank share chart suggests that it has strong support at Rs 12.50 to Rs 12 and on trend reversal, it may go up to Rs 18 and on the breakage of this Rs 18 resistance, we can see the private bank stock price going upto Rs 22."
However, Simi Bhaumik maintained that Yes Bank share price may break Rs 12 support and go below Rs 10. In that case, she advised investors to buy Yes Bank shares at around Rs 7.5 to Rs 8 for the target of Rs 14, 18 and Rs 22.
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