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YES Bank Shares Snap 4-Day Gains, Dive 11% Today; Analysts Weigh In

Overview of yes bank latest news today – YES Bank Share Performance YES Bank shares took a significant dip in Monday’s trading session, breaking a four-day winning streak. The stock plummeted by 10.71%, reaching a day low of Rs 28.01. This decline marks a 14.63% drop from its one-year high value of Rs 32.81, observed just last Friday.

Short-Term ASM Framework Implementation

Both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) have placed YES Bank securities under the short-term Additional Surveillance Measure (ASM) framework. This move aims to alert investors to the heightened volatility in YES Bank’s share prices.

yes bank latest news today

Technical Analysis Insights 

Technical analysts are observing a bearish trend in YES Bank’s stock price, noting its overbought status on daily charts. AR Ramachandran from Tips2trades advises investors to consider profit booking, highlighting a strong resistance level at Rs 32.7. Similarly, Ganesh Dongre of Anand Rathi Shares and Stock Brokers suggests booking profits due to the stock’s overbought condition.

Target Levels and Support Zones

yes bank latest news today

Shiju Koothupalakkal, Technical Research Analyst at Prabhudas Lilladher, indicates that YES Bank has reached an initial target of Rs 32, encountering resistance. He identifies a near-term support at Rs 26.50 and anticipates a fresh breakout if the stock breaches Rs 32, targeting levels of Rs 35 and Rs 41. Osho Krishan from Angel One advises maintaining a pragmatic approach and setting trailing support zones.

Moving Averages and Relative Strength Index

yes bank latest news today

yes bank latest news today-Yes Bank’s stock is currently trading above various simple moving averages, including the 5-day, 10-day, and 200-day SMAs. The 14-day Relative Strength Index (RSI) stands at 62.15, indicating a neutral position. A level below 30 is considered oversold, while above 70 is overbought.

Valuation Metrics of yes bank latest news today

yes bank latest news today

The company’s price-to-equity (P/E) ratio stands at 90.08, with a price-to-book (P/B) value of 2.18. These valuation metrics provide insight into YES Bank’s financial standing and market performance.

yes bank latest news today-Yes Bank shares experienced a notable decline following a four-day upward trend. Analysts suggest cautious approaches, considering the stock’s overbought status and technical indicators. Investors are advised to monitor support levels and consider profit booking strategies amidst ongoing market volatility-yes bank latest news today.

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