YES BANK share price today: What to expect from this stock when markets open on Monday? Expert gives insights

YES BANK share price ended the last trading session of this week (Thursday) at Rs 15.75 on the NSE. The stock ended the day in the green going up by almost 1 per cent from the last closing price on Wednesday. The markets are closed on Friday on account of Good Friday. So, what can investors expect when the markets reopen on Monday. Technical Analyst Nilesh Jain Assistant Vice President (AVP), Equity Research Technical and Derivatives at Centrum Broking gives some useful insights here!

Yes Bank started on a positive note in April. The movement in Yes Bank shares are usually triggered by hard news, Jain said. In any case, the charts reflect a positive momentum and indicate that an upside could be possible, Jain added.  

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The AVP said that investors should watch the level at Rs 16, crossing which Yes Bank stock may start to move upwards. He said that once it crossed levels of Rs 16, an upside will be open for it. 

The technical analyst has revised the earlier medium term Yes Bank target price of Rs 18. He said that investors can expect a target price between Rs 17-17.5 once the level of Rs 16 is breached. He has cautioned the investors that this target price in unlikely to be achieved in immediate to near term. 

A big move in the Yes Bank stock came on 30th March, 2021, when it ended at Rs 16.40, gaining by almost 17 per cent or Rs 2.35. Jain said that it was a significant move and was also a trend reversal of sorts. Though, Yes Bank stock closed negatively in the next trading session on Wednesday, the structure remained positive. That structure is still in place, he further said.  

Jain had earlier said that the Yes Bank Stock, while crossing the levels of Rs 16 had given a crucial breakout.  

His current strategy on Yes Bank shares is an “AVOID” for now and no fresh long positions should be taken. For all kinds of investors, the right thing is to Wait and Watch, Jain said. He said that some investors may be tempted to continue holding this stock because it once hit levels around Rs 21, so there is some euphoria around this level, he said.          

Yes Bank’s 52-week low is around Rs 11.10, which it hit on 28th July, 2020.