Yes Bank share price downward spiral continues! Check important levels that you must know

Yes Bank Share Price: After breaking down below Rs 15 last week, Yes Bank shares have been continuously dipping near to Rs 14. That means Yes Bank stock price has broken its previous support, which was pegged at Rs 15. According to stock market experts, Yes Bank share price new support is now around Rs 12 and the new range in which Yes Bank stock price is oscillating is now Rs 12 to Rs 18.

Highlighting the new levels that are important for Yes Bank shareholders, Mudit Goel, Senior Research Analyst at SMC said, "After breaking below Rs 15 Yes Bank share price has new support at around Rs 12 to Rs 12.50. Yes Bank shareholders are advised to maintain stop loss around Rs 12." However, Goel said that there can be sharp trend reversal and in that case, this private lender's stock may soon hit Rs 18 levels as Rs 12 to Rs 18 is the current range of Yes Bank stocks.

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Sharing the Yes Bank share price target,; SEBI registered technical equity analyst Simi Bhaumik said, "Yes Bank stock has strong immediate support at Rs 12 to Rs 12.50 and on the breakage of this level we can witness Yes Bank share price going below Rs 10. In that case one can buy Yes Bank shares at around Rs 7.50 to Rs 8.00 levels for the targets of Rs 18, Rs 20 and Rs 22."

However, Bhaumik advised Yes Bank shareholders to maintain the stop loss at Rs 12 and come out of their position if the stop loss triggers. She advised them to take position at around Rs 7.50 to Rs 8.00, but only if the Rs 12 stop-loss gets triggered.