Yes Bank Limited (YESBANK) Stock - Complete Technical Analysis - Sep 17, 2024

Yes Bank Limited Technical Analysis: Key Support & Resistance Levels NSE Stock Insights

Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Investing in stocks involves risks, and it's essential to conduct thorough research or consult with a financial advisor before making investment decisions. Lets explore the technical setup for Yes Bank Limited (YESBANK). The stock is currently trading at 23.40, significantly below its 52-week high of 32.85, suggesting that its been under pressure. However, its still above its 52-week low of 15.70, indicating a recent recovery.

Support and Resistance Levels:

Support: Key support levels are seen around 22.20. If the stock breaks below this, additional support can be found near 20.79 and 17.01.

Resistance: Immediate resistance is observed near the 24.41 level, with additional resistance around 25.98 and 28.35.

Technical Indicators:

MACD: The MACD is currently negative, signaling potential bearish momentum.

RSI: The RSI is near the middle range, indicating that the stock is neither overbought nor oversold.

Stochastic Oscillator: The stochastic indicators are showing a neutral reading, suggesting that the stock is currently in a consolidation phase.

ADX: The ADX is relatively low, which indicates a weak trend, whether bullish or bearish.

Moving Averages: The stock price is trading slightly below its short-term moving averages, which could imply a potential struggle to maintain upward momentum. The Hull Moving Average suggests slight bearishness in the short term.

Chart Patterns: An inside candle pattern was found recently, suggesting a possible continuation or reversal based on upcoming price action.

In summary, Yes Bank is experiencing mixed signals with a potential bearish trend in the short term. Traders should monitor the support levels for potential buying opportunities or look for resistance breakouts to confirm any bullish moves.