Yes Bank Share Price: Stock trades flat! Experts expect BREAKOUT above this level

Yes Bank share price closed at Rs 15.60 yesterday, which is almost flat compared to its Tuesday close. According to stock market experts, Yes Bank shares have immediate support at Rs 15 and it has an immediate hurdle at Rs 16. Once it breaks this Rs 16 hurdle, it will soon showcase Rs 17.50 to Rs 18 levels. However, they also said that on the breakage of Rs 15 support, Yes Bank stock price may fall as low as Rs 12.50.

Speaking on the Yes Bank outlook in near term, Nilesh Jain, Assistant Vice President (AVP) — Equity Research Technical and Derivatives at Centrum Broking said, "For Yes Bank share price, Rs 15 is crucial and its overall sentiment is positive till it sustains above Rs 15 level. The resistance is at Rs 16 and once the Yes Bank Stocks cross this level, an upside between Rs 17 to 17.5 will become open." He said that till that time, it would continue to trade in a range-bound manner.

Mudit Goel, Senior Research Analyst at SMC said, "Yes Bank shares have immediate support at Rs 12.50 to Rs 13 levels. Those who have Yes Bank shares in its portfolio should maintain the stop loss at Rs 13 and wait for the bounceback as Yes Bank stocks have shown trend reversal last week."

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Sharing important levels in regard to Yes Bank stocks, Simi Bhaumik, a SEBI registered technical equity analyst said, "Yes Bank has strong support at Rs 12.50 and has equally strong resistance at Rs 18. In the current scenario, Yes Bank shares may go up to Rs 18 till it trades above Rs 15. But, on the breakage of Rs 15 it may go down further up to Rs 12.50. In case, Rs 12.50 stop loss triggers, it may further go down below Rs 10." 

The technical analyst advised traders to avoid taking any position in Yes Bank stock at current levels and those who have it in their portfolio, should try to maintain the stop-loss at Rs 12.50.