Yes Bank Share price has an immediate support at Rs 15.50 while resistance at Rs 16.90, breakout on either side possible
Sumeet Bagadia, Executive Director, Research at Choice Broking says that on the daily timeframe, Yes Bank has been trading in a Symmetrical Triangle pattern with downside move. Moreover, the stock has shifted below Middle Bollinger Band formation, which suggests some weakness for the near term. A momentum indicator RSI (14) & Stochastic oscillator showed negative crossover on the daily chart.
Yes Bank has an immediate support at Rs 15.50 while resistance at Rs 16.90. Hence, either side breakout may confirm the price direction: Reuters