YES BANK share price today: Know why stock is trading up over 4%! Should you BUY, SELL or HOLD it? Important for investors
The trend in Yes Bank stocks is expected to become positive only when the counter crosses the 200-day moving average (DMA) which is around the levels of Rs 15, the AVP said
YES BANK share price today: Stocks of Yes Bank were trading at Rs 13.90, up by over 4 per cent on the NSE at 2:45 pm on Monday. What are the prospects of this banking stock? Should the investors buy Yes Bank counter, or should the existing investors Sell it or Hold it? Technical Analyst Nilesh Jain who is Assistant Vice President (AVP), Equity Research Technical and Derivatives at Centrum Broking suggests this to the investors.
Jain said that there is no fresh view that is forming on this stock in the absence of fresh triggers that could drive the Yes Bank stocks ahead. This is still facing a downward trend, this technical analyst said.
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The trend is expected to become positive only when the Yes Bank stocks cross the 200-day moving average (DMA) which is around the levels of Rs 15, the AVP said.
If this happens then the Yes Bank stocks will not just see the 200-day moving average getting breached but also get over with the formation of lower tops and lower bottoms, he further said.
On Monday, the trend was slightly sideways as the stock gained from the previous levels on Friday.
For investors who are already invested in this stock should HOLD keeping a strict stop loss at R 12.70. He recommends avoiding taking fresh positions in Yes Bank stocks at current levels. No new positions should be made on this stock until levels of Rs 15 are reached, he further said.
Jain has previously told Zee Business Web that this stock is mainly triggered by the news and does not see a lot of action in the absence of that.
Yes Bank’s 52-week low is around Rs 11.10, which it achieved on 28 July 2020 while the 52-week high for this stock stands at Rs 32.
Yes Bank stocks ended at Rs 13.35 on Friday. The have moved both ways over the las 5-6 trading sessions.
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