Yes Bank share price has been showcasing some upside moves after remaining in the red zone for more than a fortnight. Yes Bank share price today opened 0.64 per cent lower at Rs 15.50 in the opening bell trade session. According to stock market experts, Yes Bank share price is in oversold zone and a big bounce back is widely expected. They said that the private lender stock price will first hit Rs 18 target and on the breakage of this resistance it may go up to Rs 22.

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

Speaking on the Yes Bank share price outlook; Sumeet Bagadia, Executive Director at Choice Broking said, "Yes Bank daily chart suggests an upside movement. Yes Bank share price is currently at its oversold zone which points to a bounce back move in the counter. Furthermore, Yes Bank has shown positive crossover on the daily chart which adds more bullishness to the price of Yes Bank, says Sumeet. Based on the above technical structure, Sumeet is expecting an upside move in the counter up to the level of Rs 17.50 to Rs 18 levels with the support of Rs 12.50."

WATCH | Zee Business Live TV streaming below:

Sharing major levels visible at daily chart of the Yes Bank shares; SEBI registered technical equity analyst Simi Bhaumik said, "Yes Bank share price has currently strong support at Rs 12.50 and those who have Yes Bank shares in their portfolio must maintain the stop loss at Rs 12.50 and wait for the trend reversal or bounceback."

Bhaumik said that Yes Bank share price has an immediate hurdle at Rs 18 and once it breaks this level it may showcase Rs 20 and Rs 22 levels in the coming trade sessions. But, she also advised Yes Bank share holders to come out of their position if the Rs 12.50 stop loss triggers.